GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC increased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,725 shares of the company’s stock after purchasing an additional 229 shares during the period. Townsquare Capital LLC’s holdings in GE HealthCare Technologies were worth $623,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GEHC. N.E.W. Advisory Services LLC bought a new stake in GE HealthCare Technologies during the first quarter worth approximately $25,000. Bogart Wealth LLC increased its holdings in shares of GE HealthCare Technologies by 260.0% in the first quarter. Bogart Wealth LLC now owns 342 shares of the company’s stock valued at $28,000 after buying an additional 247 shares in the last quarter. Stonebridge Financial Group LLC increased its holdings in shares of GE HealthCare Technologies by 165.7% in the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company’s stock valued at $29,000 after buying an additional 222 shares in the last quarter. LGT Financial Advisors LLC lifted its position in shares of GE HealthCare Technologies by 46.2% during 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. Finally, Accredited Wealth Management LLC bought a new stake in shares of GE HealthCare Technologies during the 4th quarter worth $30,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

GEHC opened at $73.40 on Friday. The stock has a fifty day moving average price of $73.90 and a 200 day moving average price of $75.63. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year high of $94.80. The stock has a market cap of $33.51 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 2.80 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.15. The company 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%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the business earned $1.00 EPS. Analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were issued a dividend of $0.035 per share. The ex-dividend date was 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 currently 2.87%.

GE HealthCare Technologies announced that its Board of Directors has initiated a share buyback program on Wednesday, April 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GEHC. BTIG Research reaffirmed a “buy” rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Wall Street Zen upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. The Goldman Sachs Group decreased their target price on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, May 1st. 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 report on Wednesday, April 23rd. Finally, Citigroup raised their price objective on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average target price of $88.55.

About GE HealthCare Technologies

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.