Jacobs Levy Equity Management Inc. Increases Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Jacobs Levy Equity Management Inc. increased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 41.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,451,179 shares of the company's stock after acquiring an additional 719,866 shares during the period. GE HealthCare Technologies makes up about 0.7% of Jacobs Levy Equity Management Inc.'s holdings, making the stock its 29th biggest position. Jacobs Levy Equity Management Inc. owned 0.54% of GE HealthCare Technologies worth $191,633,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC increased its holdings in shares of GE HealthCare Technologies by 21.4% in the 4th quarter. Janus Henderson Group PLC now owns 62,620 shares of the company's stock worth $4,895,000 after buying an additional 11,041 shares during the last quarter. Jefferies Financial Group Inc. increased its holdings in shares of GE HealthCare Technologies by 37.7% in the 4th quarter. Jefferies Financial Group Inc. now owns 143,673 shares of the company's stock worth $11,232,000 after buying an additional 39,333 shares during the last quarter. Humankind Investments LLC increased its holdings in shares of GE HealthCare Technologies by 8.2% in the 4th quarter. Humankind Investments LLC now owns 17,876 shares of the company's stock worth $1,398,000 after buying an additional 1,350 shares during the last quarter. Graham Capital Management L.P. bought a new position in shares of GE HealthCare Technologies in the 4th quarter worth $1,643,000. Finally, Focus Partners Wealth increased its holdings in shares of GE HealthCare Technologies by 30.5% in the 4th quarter. Focus Partners Wealth now owns 699,496 shares of the company's stock worth $54,836,000 after buying an additional 163,438 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the company a "buy" rating in a research note on Monday, April 14th. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their price objective for the company from $74.00 to $73.00 in a research note on Monday, May 5th. Citigroup cut 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 price objective 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. 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 note on Tuesday, May 6th. 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's stock. According to MarketBeat.com, GE HealthCare Technologies has an average rating of "Moderate Buy" and an average target price of $88.27.

GE HealthCare Technologies Stock Up 0.1%

Shares of GE HealthCare Technologies stock traded up $0.07 during trading on Thursday, hitting $72.91. The company's stock had a trading volume of 3,447,939 shares, compared to its average volume of 3,403,692. 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 company has a fifty day simple moving average of $71.77 and a two-hundred day simple moving average of $80.39. The company has a market capitalization of $33.38 billion, a PE ratio of 16.84, a P/E/G 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 issued its quarterly 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. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.90 EPS. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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

GE HealthCare Technologies announced that its board has authorized a share repurchase plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

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.