Silvercrest Asset Management Group LLC Buys 143,559 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Silvercrest Asset Management Group LLC raised its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 24.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 721,643 shares of the company's stock after buying an additional 143,559 shares during the period. Silvercrest Asset Management Group LLC owned about 0.16% of GE HealthCare Technologies worth $56,418,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in GE HealthCare Technologies in the 4th quarter valued at $488,531,000. Capital Research Global Investors raised its holdings in shares of 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 buying an additional 2,608,066 shares during the last quarter. Van ECK Associates Corp increased its position in GE HealthCare Technologies by 107.3% in the 4th quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company's stock valued at $378,520,000 after acquiring an additional 2,506,417 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of GE HealthCare Technologies by 4.3% in 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 bought a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $102,574,000. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Trading Down 3.0%

NASDAQ GEHC traded down $2.18 during trading on Wednesday, reaching $69.67. 1,487,739 shares of the stock traded hands, compared to its average volume of 4,231,750. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two 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 has a market cap of $31.90 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. The stock's 50-day moving average price is $70.87 and its 200 day moving average price is $79.96.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly 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 net margin of 10.13% and a return on equity of 25.74%. The company had revenue of $4.78 billion for 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 quarterly revenue was up 2.7% compared to the same quarter last year. Analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its board has authorized a stock buyback plan on Wednesday, April 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were issued a $0.035 dividend. The ex-dividend date was Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.20%. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.95%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GEHC shares. Piper Sandler dropped their target price on 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. BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the company a "buy" rating in a research report on Monday, April 14th. Morgan Stanley reduced their target price on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. UBS Group raised shares of 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 note on Monday, May 5th. Finally, Citigroup reduced 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 note on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $88.27.

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.