GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lifted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 24.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 721,643 shares of the company's stock after purchasing an additional 143,559 shares during the period. Silvercrest Asset Management Group LLC owned 0.16% of GE HealthCare Technologies worth $56,418,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in GE HealthCare Technologies during the 4th quarter valued at $488,531,000. Capital Research Global Investors raised its position in shares of GE HealthCare Technologies by 4.5% in the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock worth $4,755,851,000 after acquiring an additional 2,608,066 shares in the last quarter. Van ECK Associates Corp raised its position in shares of 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 worth $378,520,000 after acquiring an additional 2,506,417 shares in the last quarter. Vanguard Group Inc. raised its position in shares of GE HealthCare Technologies by 4.3% in the 4th 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 in the last quarter. Finally, Eminence Capital LP bought a new position in shares of GE HealthCare Technologies in the 4th quarter worth $102,574,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GEHC shares. 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 research report on Wednesday, April 30th. The Goldman Sachs Group decreased their price objective on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Morgan Stanley decreased their price objective on shares of 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 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 report on Thursday, May 1st. Finally, Piper Sandler cut their price objective on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.27.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded down $0.03 during mid-day trading on Monday, reaching $73.10. The company had a trading volume of 2,417,093 shares, compared to its average volume of 3,414,813. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-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 stock has a market capitalization of $33.47 billion, a P/E ratio of 16.88, a PEG ratio of 3.19 and a beta of 1.21. The stock has a 50 day moving average of $71.27 and a two-hundred day moving average of $80.11.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The company's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share. On average, analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

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 given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.19%. GE HealthCare Technologies's dividend payout ratio is currently 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 reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

GE HealthCare Technologies 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.