GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stock Holdings Increased by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV increased its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 11.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,691 shares of the company's stock after purchasing an additional 10,832 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in GE HealthCare Technologies were worth $8,244,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CoreFirst Bank & Trust purchased a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at $25,000. Runnymede Capital Advisors Inc. acquired a new position in GE HealthCare Technologies in the fourth quarter valued at $28,000. LGT Financial Advisors LLC boosted its holdings 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 acquiring an additional 123 shares during the last quarter. Accredited Wealth Management LLC acquired a new position in GE HealthCare Technologies in the fourth quarter valued at $30,000. Finally, Bank of Jackson Hole Trust acquired a new position in GE HealthCare Technologies in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Down 0.0%

Shares of NASDAQ:GEHC traded down $0.03 during 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. 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 Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The stock's 50-day moving average price is $71.27 and its two-hundred day moving average price is $80.11. The company has a market capitalization of $33.47 billion, a PE ratio of 16.88, a PEG ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The business 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 firm posted $0.90 earnings per share. The company's revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its board has approved a stock buyback program on Wednesday, April 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

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. This represents a $0.14 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend was Friday, April 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is 2.95%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GEHC. Citigroup reduced their target price on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Piper Sandler reduced their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the company a "buy" rating in a report on Monday, April 14th. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and reduced their price objective for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Finally, Wells Fargo & Company reduced their price objective on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus 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.