Wills Financial Group LLC Acquires Shares of 65,775 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Key Points

• Wills Financial Group LLC acquired 65,775 shares of GE HealthCare Technologies Inc., valued at approximately $5.3 million, making it the 16th largest holding in their investment portfolio.
• Analysts have issued varying price targets for GE HealthCare Technologies, with significant reductions from firms like Evercore ISI and Piper Sandler, while maintaining "buy" ratings overall.
• GE HealthCare Technologies recently declared a quarterly dividend of $0.035 per share, alongside a share buyback program authorizing up to $1 billion in repurchases.

Wills Financial Group LLC bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 65,775 shares of the company's stock, valued at approximately $5,309,000. GE HealthCare Technologies comprises about 2.4% of Wills Financial Group LLC's investment portfolio, making the stock its 16th largest holding.

A number of other large investors have also made changes to their positions in the stock. Schroder Investment Management Group increased its position in GE HealthCare Technologies by 2.1% during the fourth quarter. Schroder Investment Management Group now owns 38,069 shares of the company's stock worth $2,992,000 after purchasing an additional 770 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of GE HealthCare Technologies by 17.2% during the 4th quarter. Wellington Management Group LLP now owns 24,341 shares of the company's stock worth $1,903,000 after purchasing an additional 3,575 shares during the period. Franklin Resources Inc. raised its holdings in GE HealthCare Technologies by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 67,536 shares of the company's stock valued at $5,280,000 after buying an additional 1,105 shares during the period. Trexquant Investment LP acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at about $4,797,000. Finally, World Investment Advisors lifted its holdings in shares of GE HealthCare Technologies by 6.3% in the 4th quarter. World Investment Advisors now owns 5,012 shares of the company's stock worth $392,000 after acquiring an additional 296 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on GEHC. Evercore ISI decreased their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Piper Sandler cut their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Finally, Citigroup increased their price objective on GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, GE HealthCare Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $88.55.

GE HealthCare Technologies Price Performance

GEHC stock opened at $69.85 on Monday. The business has a 50 day simple moving average of $73.59 and a 200-day simple moving average of $76.58. The company has a market capitalization of $31.89 billion, a P/E ratio of 14.31, a PEG ratio of 2.67 and a beta of 1.13. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.15. The business had revenue of $5 billion during the quarter, compared to analysts' expectations of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business's revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.00 earnings per share. As a group, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its Board of Directors has authorized a share buyback program on Wednesday, April 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, July 25th. GE HealthCare Technologies's dividend payout ratio is 2.87%.

GE HealthCare Technologies Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.

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