ProShare Advisors LLC Purchases 97,666 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

ProShare Advisors LLC lifted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 19.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 599,200 shares of the company's stock after acquiring an additional 97,666 shares during the quarter. ProShare Advisors LLC owned approximately 0.13% of GE HealthCare Technologies worth $46,845,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GEHC. CoreFirst Bank & Trust bought a new stake in GE HealthCare Technologies in the 4th quarter valued at $25,000. Runnymede Capital Advisors Inc. acquired a new position in shares of GE HealthCare Technologies during the 4th quarter worth $28,000. LGT Financial Advisors LLC raised its holdings in shares of GE HealthCare Technologies by 46.2% during the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after buying an additional 123 shares in the last quarter. Accredited Wealth Management LLC acquired a new position in shares of GE HealthCare Technologies during the 4th quarter worth $30,000. Finally, Bank of Jackson Hole Trust acquired a new position in GE HealthCare Technologies in the 4th quarter worth about $32,000. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Down 2.3%

Shares of GE HealthCare Technologies stock traded down $1.64 on Wednesday, reaching $70.21. The company's stock had a trading volume of 1,153,006 shares, compared to its average volume of 3,414,134. The company has a market capitalization of $32.15 billion, a price-to-earnings ratio of 16.22, 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. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm's fifty day simple moving average is $70.87 and its two-hundred day simple moving average is $79.96.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating 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 company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the business earned $0.90 earnings per share. GE HealthCare Technologies's quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were given 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 0.20%. GE HealthCare Technologies's dividend payout ratio is currently 2.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup reduced their price target on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley cut their price objective on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Piper Sandler lowered their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the company a "buy" rating in a research note on Monday, April 14th. Finally, The Goldman Sachs Group cut their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Three 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. Based on data from MarketBeat, GE HealthCare Technologies has an average rating of "Moderate Buy" and a consensus target price of $88.27.

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.