Mercer Global Advisors Inc. ADV Acquires 4,998 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Mercer Global Advisors Inc. ADV raised its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 19.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,777 shares of the company's stock after purchasing an additional 4,998 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in GE HealthCare Technologies were worth $2,406,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GEHC. CoreFirst Bank & Trust bought a new position in shares of GE HealthCare Technologies in the 4th quarter valued at about $25,000. Runnymede Capital Advisors Inc. acquired a new position in GE HealthCare Technologies during the fourth quarter valued at approximately $28,000. LGT Financial Advisors LLC grew its stake in GE HealthCare Technologies by 46.2% in the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after purchasing an additional 123 shares in the last quarter. Bank of Jackson Hole Trust acquired a new position in shares of GE HealthCare Technologies during the 4th quarter worth approximately $32,000. Finally, OFI Invest Asset Management bought a new stake in shares of GE HealthCare Technologies during the 4th quarter worth approximately $34,000. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Trading Down 0.9 %

Shares of GEHC traded down $0.63 during mid-day trading on Friday, reaching $69.87. 5,722,041 shares of the company were exchanged, compared to its average volume of 3,356,168. The business has a 50 day simple moving average of $72.49 and a two-hundred day simple moving average of $80.70. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The stock has a market capitalization of $31.99 billion, a PE ratio of 16.14, a PEG ratio of 3.19 and a beta of 1.21. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. The company had revenue of $4.78 billion during the quarter, compared to analysts' expectations of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. GE HealthCare Technologies's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 earnings per share. On average, analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies announced that its board has authorized a stock repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.20%. GE HealthCare Technologies's payout ratio is 2.95%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GEHC. The Goldman Sachs Group cut their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Citigroup decreased their price target on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Evercore ISI cut their target price on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Piper Sandler decreased their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Morgan Stanley cut their price objective on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research report on Tuesday. Three investment 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 stock. According to data from MarketBeat, the company 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.