GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB grew its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 63.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,906 shares of the company’s stock after purchasing an additional 1,132 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in GE HealthCare Technologies were worth $235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Research Global Investors raised its stake in 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 acquiring an additional 2,608,066 shares in the last quarter. Vanguard Group Inc. raised its stake in 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 acquiring an additional 2,155,429 shares in the last quarter. Geode Capital Management LLC raised its stake in 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 acquiring an additional 342,819 shares in the last quarter. Invesco Ltd. raised its stake in 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 acquiring an additional 1,252,613 shares in the last quarter. Finally, Norges Bank acquired a new stake in GE HealthCare Technologies during the 4th quarter worth $488,531,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the stock a “buy” rating in a research note on Monday, April 14th. Piper Sandler cut 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 note on Wednesday, April 23rd. Wall Street Zen upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and cut their price target for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Finally, The Goldman Sachs Group dropped their price objective on shares of 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 research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average target price of $88.27.

GE HealthCare Technologies Trading Down 2.2%

Shares of GE HealthCare Technologies stock opened at $69.96 on Friday. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company’s 50-day simple moving average is $68.96 and its 200-day simple moving average is $79.06. The firm has a market cap of $32.03 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 earnings per share. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were issued 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 was Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio is currently 2.95%.

GE HealthCare Technologies announced that its board has approved a share repurchase program on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.