Occudo Quantitative Strategies LP Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Occudo Quantitative Strategies LP purchased a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 31,727 shares of the company's stock, valued at approximately $2,480,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GEHC. Norges Bank purchased a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $488,531,000. Capital Research Global Investors grew its position in shares of GE HealthCare Technologies by 4.5% in the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock valued at $4,755,851,000 after purchasing an additional 2,608,066 shares during the period. Van ECK Associates Corp increased its stake in GE HealthCare Technologies by 107.3% in the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company's stock valued at $378,520,000 after purchasing an additional 2,506,417 shares during the last quarter. Vanguard Group Inc. lifted its position in GE HealthCare Technologies by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock worth $4,107,378,000 after buying an additional 2,155,429 shares during the period. Finally, Eminence Capital LP acquired a new position in shares of GE HealthCare Technologies during the 4th quarter valued at about $102,574,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GEHC has been the subject of several research analyst reports. Morgan Stanley dropped their price target 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, May 6th. Citigroup lowered their price target on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company cut their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. 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 research report on Wednesday, April 23rd. Finally, BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the stock a "buy" rating in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.27.

GE HealthCare Technologies Stock Performance

GEHC traded up $0.22 during trading hours on Friday, hitting $73.13. 3,308,976 shares of the stock were exchanged, compared to its average volume of 3,410,423. The stock has a market cap of $33.49 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The stock has a 50-day simple moving average of $71.52 and a 200-day simple moving average of $80.30. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. The firm 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 revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 EPS. Analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

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

GE HealthCare Technologies Announces Dividend

The business 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 of this dividend was 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%.

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.