Ameriflex Group Inc. Acquires New Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Ameriflex Group Inc. acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 399 shares of the company’s stock, valued at approximately $31,000.

Other large investors have also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust acquired a new stake in GE HealthCare Technologies in the 4th quarter valued at about $25,000. Runnymede Capital Advisors Inc. acquired a new stake in GE HealthCare Technologies in the 4th quarter valued at about $28,000. LGT Financial Advisors LLC grew 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 valued at $30,000 after acquiring an additional 123 shares during the last quarter. Accredited Wealth Management LLC purchased a new position in GE HealthCare Technologies in the 4th quarter valued at about $30,000. Finally, Bank of Jackson Hole Trust purchased a new position in GE HealthCare Technologies in the 4th quarter valued at about $32,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler reduced 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 report on Wednesday, April 23rd. Evercore ISI reduced 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 report on Thursday, May 1st. Morgan Stanley reduced 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 report on Tuesday, May 6th. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and reduced their target price for the company from $74.00 to $73.00 in a report on Monday, May 5th. Finally, Wells Fargo & Company reduced 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 report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.27.

GE HealthCare Technologies Trading Up 0.5%

Shares of GEHC stock opened at $71.53 on Friday. The firm has a market cap of $32.75 billion, a P/E ratio of 16.52, a PEG 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. 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’s 50-day simple moving average is $69.21 and its 200-day simple moving average is $79.20.

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

GE HealthCare Technologies Announces Dividend

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

GE HealthCare Technologies announced that its board has initiated a share buyback program on Wednesday, April 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are 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.