Lansforsakringar Fondforvaltning AB publ Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Lansforsakringar Fondforvaltning AB publ purchased a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 4th quarter, HoldingsChannel reports. The firm purchased 103,094 shares of the company’s stock, valued at approximately $8,060,000.

A number of other institutional investors have also recently bought and sold shares of GEHC. CoreFirst Bank & Trust purchased a new position in GE HealthCare Technologies in the 4th quarter worth about $25,000. Runnymede Capital Advisors Inc. purchased a new position in GE HealthCare Technologies in the 4th quarter worth about $28,000. LGT Financial Advisors LLC increased its stake in GE HealthCare Technologies by 46.2% in the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock worth $30,000 after purchasing an additional 123 shares in the last quarter. Accredited Wealth Management LLC purchased a new position in GE HealthCare Technologies in the 4th quarter worth about $30,000. Finally, Ameriflex Group Inc. purchased a new position in GE HealthCare Technologies in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

GEHC has been the topic of a number of analyst reports. Evercore ISI dropped their price target on 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. Wells Fargo & Company lowered their target price on GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the company a “buy” rating in a research note on Monday, April 14th. Morgan Stanley lowered their target price on GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group lowered their target price on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $88.27.

GE HealthCare Technologies Stock Performance

GEHC opened at $71.15 on Thursday. The stock has a market cap of $32.58 billion, a PE ratio of 16.43, a P/E/G ratio of 3.19 and a beta of 1.21. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year high of $94.80. The stock’s 50 day simple moving average is $69.41 and its 200-day simple moving average is $79.29.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data 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. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The business had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the business posted $0.90 earnings per share. GE HealthCare Technologies’s quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans 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 declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were given 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 2.95%.

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.