Mufg Securities Americas Inc. Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Mufg Securities Americas Inc. acquired a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,745 shares of the company's stock, valued at approximately $527,000.

Other large investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new stake in GE HealthCare Technologies in the fourth quarter worth about $20,891,000. Cathy Pareto & Associates Inc. bought a new position in shares of GE HealthCare Technologies in the 4th quarter worth approximately $670,000. Apollon Wealth Management LLC boosted its holdings in shares of GE HealthCare Technologies by 46.5% in the fourth quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company's stock worth $1,025,000 after buying an additional 4,160 shares during the last quarter. Sanibel Captiva Trust Company Inc. grew its position in GE HealthCare Technologies by 139.9% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 7,484 shares of the company's stock valued at $585,000 after buying an additional 4,364 shares during the period. Finally, Argus Investors Counsel Inc. purchased a new stake in GE HealthCare Technologies during the fourth quarter valued at approximately $224,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Trading Down 0.0%

GE HealthCare Technologies stock traded down $0.03 during mid-day trading on Monday, hitting $73.10. The company's stock had a trading volume of 2,417,093 shares, compared to its average volume of 3,414,813. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year 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 has a market capitalization of $33.47 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. The stock's fifty day moving average is $71.27 and its two-hundred day moving average is $80.11.

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 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 for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its board has approved a share buyback plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently issued reports on GEHC shares. Citigroup cut their price objective 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. Morgan Stanley reduced 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. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $74.00 to $73.00 in a report on Monday, May 5th. Piper Sandler dropped 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 report on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their target price on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.