Homestead Advisers Corp Raises Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Homestead Advisers Corp boosted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 92.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 988,600 shares of the company’s stock after purchasing an additional 475,500 shares during the period. GE HealthCare Technologies comprises 2.0% of Homestead Advisers Corp’s portfolio, making the stock its 20th largest position. Homestead Advisers Corp owned 0.22% of GE HealthCare Technologies worth $79,790,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Thrivent Financial for Lutherans raised its holdings in GE HealthCare Technologies by 48.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 37,756 shares of the company’s stock valued at $2,978,000 after buying an additional 12,348 shares in the last quarter. Mizuho Securities USA LLC raised its stake in shares of GE HealthCare Technologies by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 43,301 shares of the company’s stock valued at $3,385,000 after acquiring an additional 13,692 shares during the last quarter. Sei Investments Co. raised its stake in shares of GE HealthCare Technologies by 20.6% in the fourth quarter. Sei Investments Co. now owns 416,285 shares of the company’s stock valued at $32,545,000 after acquiring an additional 71,029 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in GE HealthCare Technologies in the 4th quarter worth approximately $12,077,000. Finally, LPL Financial LLC raised its position in GE HealthCare Technologies by 3.9% in the 4th quarter. LPL Financial LLC now owns 444,567 shares of the company’s stock worth $34,756,000 after purchasing an additional 16,881 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Up 1.8%

Shares of GE HealthCare Technologies stock traded up $1.36 during trading on Tuesday, hitting $75.52. The company’s stock had a trading volume of 1,120,806 shares, compared to its average volume of 4,023,259. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The stock has a market cap of $34.58 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14. The stock has a 50-day moving average price of $72.98 and a two-hundred day moving average price of $77.22.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the firm earned $0.90 EPS. GE HealthCare Technologies’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies declared that its Board of Directors has initiated a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Friday, July 25th. GE HealthCare Technologies’s payout ratio is presently 2.95%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GEHC shares. UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $74.00 to $73.00 in a report on Monday, May 5th. Morgan Stanley lowered their price objective on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. BTIG Research restated a “buy” rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. The Goldman Sachs Group lowered their price objective on shares of 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. Finally, Wall Street Zen upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, May 31st. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.55.

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.