Lighthouse Financial LLC Invests $256,000 in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Lighthouse Financial LLC purchased a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, Holdings Channel.com reports. The firm purchased 3,277 shares of the company’s stock, valued at approximately $256,000.

A number of other hedge funds have also modified their holdings of GEHC. JPMorgan Chase & Co. increased its stake in shares of 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 acquiring an additional 512,778 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of GE HealthCare Technologies by 17.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 54,529 shares of the company’s stock worth $4,263,000 after acquiring an additional 7,994 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of GE HealthCare Technologies by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 10,949 shares of the company’s stock worth $856,000 after acquiring an additional 273 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of GE HealthCare Technologies in the fourth quarter worth $196,000. Finally, Kingswood Wealth Advisors LLC increased its stake in shares of GE HealthCare Technologies by 49.8% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 6,813 shares of the company’s stock worth $533,000 after acquiring an additional 2,265 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GEHC has been the topic of a number of research reports. 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. 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 report on Thursday, May 1st. Morgan Stanley lowered their target price on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the stock a “buy” rating in a research report on Monday, April 14th. Finally, The Goldman Sachs Group lowered their target price on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus price target of $88.27.

GE HealthCare Technologies Stock Performance

GEHC opened at $71.01 on Wednesday. The firm has a market capitalization of $32.51 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. The stock’s 50 day moving average price is $69.62 and its two-hundred day moving average price is $79.35. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $4.78 billion for 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 company’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 EPS. On average, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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

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

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.