Accredited Wealth Management LLC Makes New $30,000 Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Accredited Wealth Management LLC bought a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 389 shares of the company’s stock, valued at approximately $30,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CoreFirst Bank & Trust bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth about $25,000. Runnymede Capital Advisors Inc. purchased a new position in GE HealthCare Technologies in the fourth quarter worth about $28,000. LGT Financial Advisors LLC increased its stake in GE HealthCare Technologies by 46.2% during the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock worth $30,000 after acquiring an additional 123 shares during the last quarter. Bank of Jackson Hole Trust purchased a new stake in GE HealthCare Technologies during the fourth quarter valued at approximately $32,000. Finally, OFI Invest Asset Management bought a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at approximately $34,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Trading Up 4.2 %

Shares of GE HealthCare Technologies stock opened at $70.53 on Friday. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The firm’s 50 day simple moving average is $74.34 and its two-hundred day simple moving average is $81.37. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $32.29 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 3.19 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (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 analyst estimates of $4.66 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. Analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

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

GE HealthCare Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $95.00 to $103.00 in a research report on Wednesday, January 8th. Wells Fargo & Company lowered their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday. Piper Sandler cut 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. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the stock a “buy” rating in a research note on Monday, April 14th. Finally, The Goldman Sachs Group reduced their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $89.40.

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.