WS Management Lllp Buys Shares of 122,000 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

WS Management Lllp bought a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 122,000 shares of the company's stock, valued at approximately $9,538,000. GE HealthCare Technologies accounts for 0.9% of WS Management Lllp's holdings, making the stock its 17th biggest holding.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of GE HealthCare Technologies in the fourth quarter worth approximately $488,531,000. Capital Research Global Investors grew its stake in GE HealthCare Technologies by 4.5% during the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock valued at $4,755,851,000 after acquiring an additional 2,608,066 shares in the last quarter. Van ECK Associates Corp grew its stake in GE HealthCare Technologies by 107.3% during the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company's stock valued at $378,520,000 after acquiring an additional 2,506,417 shares in the last quarter. Vanguard Group Inc. grew its stake in GE HealthCare Technologies by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock valued at $4,107,378,000 after acquiring an additional 2,155,429 shares in the last quarter. Finally, Eminence Capital LP purchased a new position in GE HealthCare Technologies during the fourth quarter valued at $102,574,000. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GEHC. Evercore ISI cut their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Piper Sandler cut their target price on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company cut their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group cut their target price on shares of 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. Finally, Morgan Stanley cut their target price on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $88.27.

GE HealthCare Technologies Trading Down 0.4%

Shares of GE HealthCare Technologies stock traded down $0.28 during trading on Friday, hitting $69.16. The stock had a trading volume of 2,486,569 shares, compared to its average volume of 3,445,857. The firm's fifty day simple moving average is $70.10 and its 200-day simple moving average is $79.59. The stock has a market cap of $31.67 billion, a PE ratio of 15.97, a PEG ratio of 3.19 and a beta of 1.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80.

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

GE HealthCare Technologies announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign 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 payout ratio is 2.95%.

GE HealthCare Technologies Company 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.