Graham Capital Management L.P. Takes Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Graham Capital Management L.P. acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 21,016 shares of the company's stock, valued at approximately $1,643,000.

Other hedge funds have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of GE HealthCare Technologies in the fourth quarter worth $20,891,000. Cathy Pareto & Associates Inc. acquired a new position in GE HealthCare Technologies in the fourth quarter valued at $670,000. Apollon Wealth Management LLC boosted its position in GE HealthCare Technologies by 46.5% during the fourth quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company's stock valued at $1,025,000 after acquiring an additional 4,160 shares during the last quarter. Sanibel Captiva Trust Company Inc. grew its holdings in GE HealthCare Technologies by 139.9% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 7,484 shares of the company's stock worth $585,000 after acquiring an additional 4,364 shares during the period. Finally, Avity Investment Management Inc. lifted its stake in shares of GE HealthCare Technologies by 6.8% in the 4th quarter. Avity Investment Management Inc. now owns 379,078 shares of the company's stock valued at $29,636,000 after purchasing an additional 24,236 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Citigroup decreased their target price on 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. Wells Fargo & Company reduced their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group dropped their target price on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the company a "buy" rating in a research note on Monday, April 14th. Finally, Piper Sandler cut their price objective on shares of 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. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $88.27.

GE HealthCare Technologies Price Performance

GEHC traded up $0.07 during trading hours on Thursday, hitting $72.91. The company's stock had a trading volume of 3,447,939 shares, compared to its average volume of 3,397,925. 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 business's 50-day moving average price is $71.77 and its 200-day moving average price is $80.39. The stock has a market cap of $33.38 billion, a price-to-earnings ratio of 16.84, a P/E/G ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the business posted $0.90 EPS. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

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

GE HealthCare Technologies declared that its Board of Directors has authorized a share repurchase plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

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.