Raiffeisen Bank International AG Purchases Shares of 11,989 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Raiffeisen Bank International AG purchased a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,989 shares of the company's stock, valued at approximately $942,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GEHC. Cherry Creek Investment Advisors Inc. boosted its stake in GE HealthCare Technologies by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company's stock valued at $2,920,000 after buying an additional 114 shares during the last quarter. Independence Bank of Kentucky grew its holdings in GE HealthCare Technologies by 6.0% during the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company's stock valued at $158,000 after buying an additional 114 shares in the last quarter. Haverford Trust Co grew its holdings in GE HealthCare Technologies by 2.4% during the 4th quarter. Haverford Trust Co now owns 4,896 shares of the company's stock valued at $383,000 after buying an additional 115 shares in the last quarter. Tandem Capital Management Corp ADV grew its holdings in GE HealthCare Technologies by 0.4% during the 4th quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company's stock valued at $2,205,000 after buying an additional 118 shares in the last quarter. Finally, Arcus Capital Partners LLC grew its holdings in GE HealthCare Technologies by 3.0% during the 4th quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company's stock valued at $322,000 after buying an additional 119 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

GEHC has been the subject of several research analyst reports. Evercore ISI cut their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Citigroup lowered their price target on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their price target for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. Piper Sandler cut their price objective on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

GE HealthCare Technologies Stock Down 1.7%

NASDAQ:GEHC traded down $1.25 during trading hours on Tuesday, reaching $71.85. The company's stock had a trading volume of 3,268,213 shares, compared to its average volume of 3,422,895. The company has a market capitalization of $32.90 billion, a P/E ratio of 16.59, 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 company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The stock has a 50 day moving average price of $71.06 and a two-hundred day moving average price of $80.02.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Equities analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend was Friday, April 25th. GE HealthCare Technologies's payout ratio is presently 2.95%.

GE HealthCare Technologies declared that its Board of Directors has initiated a share repurchase program on Wednesday, April 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

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.