Quarry LP Buys Shares of 6,956 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Quarry LP bought a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,956 shares of the company's stock, valued at approximately $544,000.

Several other institutional investors have also made changes to their positions in GEHC. Susquehanna Fundamental Investments LLC purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $20,891,000. Cathy Pareto & Associates Inc. bought a new position in GE HealthCare Technologies during the fourth quarter worth about $670,000. Principal Financial Group Inc. raised its stake in shares of GE HealthCare Technologies by 1.9% in the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company's stock valued at $94,780,000 after acquiring an additional 19,010 shares during the last quarter. Everence Capital Management Inc. boosted its holdings in GE HealthCare Technologies by 118.2% in the fourth quarter. Everence Capital Management Inc. now owns 18,870 shares of the company's stock valued at $1,475,000 after acquiring an additional 10,220 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its holdings in GE HealthCare Technologies by 46.5% in the fourth quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company's stock valued at $1,025,000 after acquiring an additional 4,160 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Up 3.3 %

GEHC traded up $2.24 during midday trading on Wednesday, reaching $70.33. 12,749,274 shares of the company were exchanged, compared to its average volume of 3,265,592. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The company's fifty day moving average price is $75.62 and its 200 day moving average price is $81.81. The company has a market cap of $32.20 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80.

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 for the quarter, topping analysts' consensus estimates 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 firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The company's revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 annualized dividend and a yield of 0.20%. GE HealthCare Technologies's payout ratio is 3.23%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. 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. Jefferies Financial Group raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating and raised their price target for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. The Goldman Sachs Group raised shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and raised their target price for the company from $85.00 to $100.00 in a report on Tuesday, March 11th. Piper Sandler decreased their price target on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the stock a "buy" rating in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $94.50.

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.