Quadcap Wealth Management LLC Increases Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Quadcap Wealth Management LLC boosted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 126.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,203 shares of the company’s stock after purchasing an additional 4,580 shares during the quarter. Quadcap Wealth Management LLC’s holdings in GE HealthCare Technologies were worth $641,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GEHC. JPMorgan Chase & Co. increased its holdings in shares of GE HealthCare Technologies by 29.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company’s stock valued at $209,624,000 after acquiring an additional 512,778 shares during the last quarter. Miracle Mile Advisors LLC acquired a new position in GE HealthCare Technologies during the 4th quarter worth $240,000. Park Avenue Securities LLC boosted its position in GE HealthCare Technologies by 9.7% during the 4th quarter. Park Avenue Securities LLC now owns 4,450 shares of the company’s stock worth $348,000 after acquiring an additional 392 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in GE HealthCare Technologies by 26.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,304 shares of the company’s stock worth $102,000 after acquiring an additional 269 shares during the period. Finally, CHURCHILL MANAGEMENT Corp lifted its holdings in shares of GE HealthCare Technologies by 4.4% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 107,427 shares of the company’s stock valued at $8,399,000 after buying an additional 4,573 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $72.91 on Friday. The company has a market capitalization of $33.38 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80. 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’s fifty day moving average price is $71.52 and its 200 day moving average price is $80.30.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies announced that its Board of Directors has authorized a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders 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 annualized dividend and a dividend yield of 0.19%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 2.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GEHC shares. BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the stock a “buy” rating in a research report on Monday, April 14th. The Goldman Sachs Group decreased their price target on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company 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 for the company in a research note on Wednesday, April 23rd. Citigroup dropped 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 note on Wednesday, April 30th. Finally, Wells Fargo & Company cut their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.27.

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.