EPG Wealth Management LLC Acquires Shares of 9,801 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

EPG Wealth Management LLC purchased a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, Holdings Channel.com reports. The fund purchased 9,801 shares of the company’s stock, valued at approximately $766,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. World Investment Advisors LLC boosted its holdings in shares of GE HealthCare Technologies by 44.5% in the 3rd quarter. World Investment Advisors LLC now owns 4,716 shares of the company’s stock worth $443,000 after buying an additional 1,453 shares during the last quarter. Principal Financial Group Inc. lifted its stake in GE HealthCare Technologies by 1.9% in the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after purchasing an additional 19,010 shares during the last quarter. JPMorgan Chase & Co. increased its position in GE HealthCare Technologies by 29.8% in the third quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company’s stock worth $209,624,000 after buying an additional 512,778 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of GE HealthCare Technologies by 30.2% during the 4th quarter. Nordea Investment Management AB now owns 43,632 shares of the company’s stock valued at $3,429,000 after buying an additional 10,116 shares during the last quarter. Finally, Park National Corp OH increased its holdings in GE HealthCare Technologies by 6.0% in the 4th quarter. Park National Corp OH now owns 3,796 shares of the company’s stock worth $297,000 after acquiring an additional 216 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $67.17 on Wednesday. The stock has a 50 day moving average price of $73.47 and a two-hundred day moving average price of $81.05. 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 debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The company has a market capitalization of $30.76 billion, a P/E ratio of 15.51, a PEG ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share 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 for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the business posted $0.90 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies declared that its board has initiated a stock buyback plan 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 stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.21%. GE HealthCare Technologies’s payout ratio is 2.95%.

Wall Street Analyst Weigh In

GEHC has been the subject of a number of research reports. Piper Sandler cut their target price 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 decreased their price objective on 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. Morgan Stanley cut their target price on GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating for the company in a research note on Tuesday. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the company a “buy” rating in a research report on Monday, April 14th. Finally, Evercore ISI lowered their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average price target of $88.27.

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.