GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc increased its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 15.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,790 shares of the company's stock after purchasing an additional 10,770 shares during the period. Ensign Peak Advisors Inc's holdings in GE HealthCare Technologies were worth $6,160,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in GE HealthCare Technologies by 29.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company's stock valued at $209,624,000 after acquiring an additional 512,778 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in GE HealthCare Technologies by 0.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,597 shares of the company's stock valued at $2,392,000 after acquiring an additional 146 shares during the period. Harbor Capital Advisors Inc. lifted its stake in GE HealthCare Technologies by 4.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 8,779 shares of the company's stock valued at $686,000 after acquiring an additional 383 shares during the period. Czech National Bank lifted its stake in GE HealthCare Technologies by 6.5% during the 4th quarter. Czech National Bank now owns 99,060 shares of the company's stock valued at $7,745,000 after acquiring an additional 6,034 shares during the period. Finally, City State Bank lifted its stake in GE HealthCare Technologies by 51.6% during the 4th quarter. City State Bank now owns 561 shares of the company's stock valued at $44,000 after acquiring an additional 191 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock traded up $0.22 during trading on Friday, reaching $73.13. The company had a trading volume of 3,308,976 shares, compared to its average volume of 3,410,423. The firm's 50-day simple moving average is $71.27 and its 200 day simple moving average is $80.21. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The firm has a market capitalization of $33.49 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04.

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 (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 in the previous year, the company posted $0.90 EPS. The firm's quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

GE HealthCare Technologies declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have commented on GEHC shares. Citigroup decreased their price objective on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. 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 report on Wednesday, April 23rd. 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 report on Thursday, May 1st. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their target price for the company from $74.00 to $73.00 in a report on Monday, May 5th. Finally, 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 report on Thursday, May 1st. Three 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

About GE HealthCare Technologies

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.