Raiffeisen Bank International AG Invests $942,000 in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Raiffeisen Bank International AG acquired a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,989 shares of the company's stock, valued at approximately $942,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. ProShare Advisors LLC boosted its holdings in shares of GE HealthCare Technologies by 19.5% in the 4th quarter. ProShare Advisors LLC now owns 599,200 shares of the company's stock valued at $46,845,000 after buying an additional 97,666 shares during the period. Quadcap Wealth Management LLC boosted its stake in GE HealthCare Technologies by 126.4% in the fourth quarter. Quadcap Wealth Management LLC now owns 8,203 shares of the company's stock valued at $641,000 after acquiring an additional 4,580 shares during the period. Quantinno Capital Management LP grew its holdings in shares of GE HealthCare Technologies by 25.7% during the fourth quarter. Quantinno Capital Management LP now owns 36,040 shares of the company's stock valued at $2,818,000 after purchasing an additional 7,379 shares during the last quarter. Mufg Securities Americas Inc. bought a new position in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $527,000. Finally, Nissay Asset Management Corp Japan ADV raised its position in shares of GE HealthCare Technologies by 11.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 103,691 shares of the company's stock worth $8,244,000 after purchasing an additional 10,832 shares during the period. Institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on GEHC shares. BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the company a "buy" rating in a research report on Monday, April 14th. The Goldman Sachs Group reduced their price target on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Piper Sandler lowered their price target 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. Citigroup cut their price objective on shares of 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. Finally, UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and reduced their target price for the company from $74.00 to $73.00 in a research note on Monday, May 5th. Three 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. According to data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $88.27.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock traded down $0.32 during trading hours on Thursday, hitting $69.26. 1,307,409 shares of the company traded hands, compared to its average volume of 3,422,972. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The firm has a market cap of $31.71 billion, a P/E ratio of 16.00, a P/E/G ratio of 3.19 and a beta of 1.21. The firm's 50-day simple moving average is $70.62 and its two-hundred day simple moving average is $79.89. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $4.66 billion. During the same period last year, the firm posted $0.90 earnings per share. The business's revenue was up 2.7% on a year-over-year basis. As a group, analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies announced that its Board of Directors has authorized a stock buyback plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

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