Woodline Partners LP Acquires 21,718 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Woodline Partners LP grew its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 30.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,387 shares of the company's stock after purchasing an additional 21,718 shares during the quarter. Woodline Partners LP's holdings in GE HealthCare Technologies were worth $7,301,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GEHC. CoreFirst Bank & Trust bought a new position in shares of GE HealthCare Technologies in the 4th quarter worth about $25,000. Runnymede Capital Advisors Inc. acquired a new position in shares of GE HealthCare Technologies during the 4th quarter valued at $28,000. LGT Financial Advisors LLC boosted its stake in GE HealthCare Technologies by 46.2% during the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after acquiring an additional 123 shares in the last quarter. Accredited Wealth Management LLC acquired a new stake in GE HealthCare Technologies in the fourth quarter worth $30,000. Finally, Bank of Jackson Hole Trust acquired a new stake in GE HealthCare Technologies in the fourth quarter worth $32,000. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Up 2.7%

Shares of GEHC traded up $1.85 during trading hours on Tuesday, reaching $71.01. 3,183,788 shares of the stock traded hands, compared to its average volume of 3,444,809. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The company has a market cap of $32.51 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 3.19 and a beta of 1.21. The stock has a fifty day simple moving average of $69.83 and a 200 day simple moving average of $79.41. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The company's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 EPS. On average, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies announced that its Board of Directors has initiated a stock buyback plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.20%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.95%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GEHC shares. Wells Fargo & Company cut 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 set a $95.00 price target on GE HealthCare Technologies and gave the stock a "buy" rating in a report on Monday, April 14th. The Goldman Sachs Group reduced their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Morgan Stanley cut their target price on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Finally, Piper Sandler reduced their price target on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $88.27.

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.