WS Management Lllp Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

WS Management Lllp acquired a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 122,000 shares of the company's stock, valued at approximately $9,538,000. GE HealthCare Technologies accounts for approximately 0.9% of WS Management Lllp's investment portfolio, making the stock its 17th biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CoreFirst Bank & Trust purchased a new stake in GE HealthCare Technologies in the fourth quarter worth about $25,000. Runnymede Capital Advisors Inc. purchased a new stake in GE HealthCare Technologies in the fourth quarter worth about $28,000. LGT Financial Advisors LLC grew its holdings in GE HealthCare Technologies by 46.2% in the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after purchasing an additional 123 shares during the period. Accredited Wealth Management LLC purchased a new stake in GE HealthCare Technologies in the fourth quarter worth about $30,000. Finally, Bank of Jackson Hole Trust purchased a new stake in GE HealthCare Technologies in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Trading Down 0.0%

Shares of GEHC stock opened at $73.10 on Tuesday. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The firm's 50 day moving average is $71.06 and its 200 day moving average is $80.02. The stock has a market capitalization of $33.47 billion, a P/E ratio of 16.88, a P/E/G ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued 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 company had revenue of $4.78 billion for the quarter, compared to analysts' expectations of $4.66 billion. During the same quarter last year, the company posted $0.90 earnings per share. The firm's quarterly revenue was up 2.7% on a year-over-year basis. Research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies declared that its board has authorized a stock buyback program on Wednesday, April 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were given a $0.035 dividend. The ex-dividend date was Friday, April 25th. This represents a $0.14 annualized dividend and a yield of 0.19%. GE HealthCare Technologies's payout ratio is presently 2.95%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GEHC shares. BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the company a "buy" rating in a report on Monday, April 14th. The Goldman Sachs Group cut their price target on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their price target for the company from $74.00 to $73.00 in a report on Monday, May 5th. Morgan Stanley cut their price target on shares of 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, Wells Fargo & Company cut their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.27.

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.

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