Aptus Capital Advisors LLC Increases Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Aptus Capital Advisors LLC grew its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 13.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,763 shares of the company’s stock after buying an additional 558 shares during the quarter. Aptus Capital Advisors LLC’s holdings in GE HealthCare Technologies were worth $372,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CoreFirst Bank & Trust acquired a new stake in GE HealthCare Technologies during the 4th quarter worth $25,000. Runnymede Capital Advisors Inc. acquired a new position in GE HealthCare Technologies in the 4th quarter valued at about $28,000. LGT Financial Advisors LLC raised its stake in GE HealthCare Technologies by 46.2% during the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock valued at $30,000 after acquiring an additional 123 shares during the last quarter. Accredited Wealth Management LLC acquired a new stake in GE HealthCare Technologies during the 4th quarter worth approximately $30,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on GEHC. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the stock a “buy” rating in a research report on Monday, April 14th. Evercore ISI reduced 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. The Goldman Sachs Group dropped their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Piper Sandler decreased their target price 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 cut their price target 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, May 1st. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.27.

GE HealthCare Technologies Stock Performance

GEHC opened at $70.53 on Friday. The business has a 50 day moving average price of $72.78 and a two-hundred day moving average price of $80.84. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The company has a market capitalization of $32.30 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The company had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the prior year, the company earned $0.90 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Research analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies declared that its board has approved a stock buyback 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 a sign that the company’s board of directors believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 2.95%.

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.