GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Purchased by WD Rutherford LLC

WD Rutherford LLC raised its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,257 shares of the company’s stock after purchasing an additional 1,378 shares during the period. WD Rutherford LLC’s holdings in GE HealthCare Technologies were worth $1,796,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GEHC. CoreFirst Bank & Trust acquired a new position in GE HealthCare Technologies during the 4th quarter worth $25,000. Runnymede Capital Advisors Inc. bought a new position in shares of GE HealthCare Technologies during the fourth quarter worth about $28,000. LGT Financial Advisors LLC grew its stake in GE HealthCare Technologies by 46.2% in the fourth 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 bought a new stake in GE HealthCare Technologies in the fourth quarter valued at about $30,000. Finally, Ameriflex Group Inc. acquired a new stake in GE HealthCare Technologies during the fourth quarter valued at approximately $31,000. 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 $72.86 on Tuesday. The firm has a market capitalization of $33.36 billion, a PE ratio of 16.83, a P/E/G ratio of 3.19 and a beta of 1.13. 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 firm has a 50-day moving average price of $68.95 and a 200 day moving average price of $78.21. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80.

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, beating 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 business had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period last year, the firm posted $0.90 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

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

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend was Friday, April 25th. GE HealthCare Technologies’s payout ratio is currently 2.95%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GEHC. 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. Piper Sandler dropped 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. Morgan Stanley dropped their price objective on shares of 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. Wall Street Zen upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, May 31st. Finally, The Goldman Sachs Group reduced their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Three 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 stock. According to MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average price target 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.