Trust Asset Management LLC Purchases 1,060 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Trust Asset Management LLC lifted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 24.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,371 shares of the company’s stock after acquiring an additional 1,060 shares during the quarter. Trust Asset Management LLC’s holdings in GE HealthCare Technologies were worth $433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GEHC. Scotia Capital Inc. increased its holdings in GE HealthCare Technologies by 5.2% in the fourth quarter. Scotia Capital Inc. now owns 16,781 shares of the company’s stock valued at $1,312,000 after purchasing an additional 828 shares during the last quarter. Sagespring Wealth Partners LLC bought a new stake in GE HealthCare Technologies in the fourth quarter valued at about $213,000. Summit Investment Advisors Inc. increased its holdings in GE HealthCare Technologies by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 18,988 shares of the company’s stock valued at $1,484,000 after purchasing an additional 605 shares during the last quarter. Savvy Advisors Inc. bought a new stake in GE HealthCare Technologies in the fourth quarter valued at about $249,000. Finally, Mariner LLC increased its holdings in GE HealthCare Technologies by 1.2% in the fourth quarter. Mariner LLC now owns 78,747 shares of the company’s stock valued at $6,156,000 after purchasing an additional 917 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Up 1.4%

Shares of GE HealthCare Technologies stock opened at $73.00 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. The company has a market capitalization of $33.33 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 2.75 and a beta of 1.13. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year high of $94.80. The business has a 50-day moving average of $73.68 and a two-hundred day moving average of $75.93.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.15. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%. GE HealthCare Technologies’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the company earned $1.00 earnings per share. As a group, equities analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be issued a dividend of $0.035 per share. The ex-dividend date is Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 2.87%.

GE HealthCare Technologies declared that its board has initiated a share buyback program on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

GEHC has been the subject of a number of recent analyst reports. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $74.00 to $73.00 in a report on Monday, May 5th. Evercore ISI dropped their price objective on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Wall Street Zen upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. Citigroup increased their price target on GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company lowered their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.