MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 13,651 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 512,985 shares of the company’s stock after purchasing an additional 13,651 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.11% of GE HealthCare Technologies worth $40,106,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Capital Research Global Investors grew its position in shares of GE HealthCare Technologies by 4.5% during the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company’s stock worth $4,755,851,000 after purchasing an additional 2,608,066 shares in the last quarter. Vanguard Group Inc. grew its position in shares of GE HealthCare Technologies by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock worth $4,107,378,000 after purchasing an additional 2,155,429 shares in the last quarter. Geode Capital Management LLC grew its position in shares of GE HealthCare Technologies by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company’s stock worth $882,777,000 after purchasing an additional 342,819 shares in the last quarter. Invesco Ltd. grew its position in shares of GE HealthCare Technologies by 18.4% during the 4th quarter. Invesco Ltd. now owns 8,067,927 shares of the company’s stock worth $630,751,000 after purchasing an additional 1,252,613 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of GE HealthCare Technologies during the 4th quarter worth approximately $488,531,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

GEHC has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the stock a “buy” rating in a research report on Monday, April 14th. Piper Sandler reduced 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 research report on Wednesday, April 23rd. Citigroup reduced their price target on shares of 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. Finally, Evercore ISI reduced their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.27.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $73.83 on Wednesday. The company has a market cap of $33.81 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 3.19 and a beta of 1.21. 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 firm has a 50 day simple moving average of $72.05 and a 200 day simple moving average of $80.44. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80.

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

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.19%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 2.95%.

GE HealthCare Technologies declared that its Board of Directors has approved 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 usually an indication that the company’s board believes its shares are undervalued.

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.