Quadcap Wealth Management LLC Purchases 4,580 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Quadcap Wealth Management LLC grew its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 126.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,203 shares of the company's stock after buying an additional 4,580 shares during the quarter. Quadcap Wealth Management LLC's holdings in GE HealthCare Technologies were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $488,531,000. Capital Research Global Investors raised its position in 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 position in shares of GE HealthCare Technologies by 107.3% during the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company's stock worth $378,520,000 after acquiring an additional 2,506,417 shares during the last quarter. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 2,155,429 shares during the last quarter. Finally, Eminence Capital LP purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter worth about $102,574,000. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Down 2.3%

Shares of NASDAQ GEHC traded down $1.62 during mid-day trading on Wednesday, reaching $70.23. 1,153,006 shares of the company's stock traded hands, compared to its average volume of 3,414,104. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The stock has a market cap of $32.16 billion, a P/E ratio of 16.22, a PEG ratio of 3.19 and a beta of 1.21. The business has a 50-day simple moving average of $70.87 and a 200 day simple moving average of $79.96. 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 released its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating 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 business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the business earned $0.90 EPS. GE HealthCare Technologies's revenue was up 2.7% compared to the same quarter last year. On average, analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies declared that its Board of Directors has initiated a stock repurchase program on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The business 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 of this dividend was Friday, April 25th. This represents a $0.14 annualized dividend and a yield of 0.20%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup decreased their price target 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 cut their target price on 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. Wells Fargo & Company dropped their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their price target for the company from $74.00 to $73.00 in a report on Monday, May 5th. Finally, BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the company a "buy" rating in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $88.27.

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.