Raiffeisen Bank International AG Purchases New Shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Raiffeisen Bank International AG purchased a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 11,989 shares of the company’s stock, valued at approximately $942,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. ProShare Advisors LLC boosted its position in shares of GE HealthCare Technologies by 19.5% in the 4th quarter. ProShare Advisors LLC now owns 599,200 shares of the company’s stock valued at $46,845,000 after purchasing an additional 97,666 shares during the period. Quadcap Wealth Management LLC lifted its stake in GE HealthCare Technologies by 126.4% in the 4th quarter. Quadcap Wealth Management LLC now owns 8,203 shares of the company’s stock worth $641,000 after acquiring an additional 4,580 shares in the last quarter. Quantinno Capital Management LP lifted its stake in GE HealthCare Technologies by 25.7% in the 4th quarter. Quantinno Capital Management LP now owns 36,040 shares of the company’s stock worth $2,818,000 after acquiring an additional 7,379 shares in the last quarter. Mufg Securities Americas Inc. purchased a new stake in GE HealthCare Technologies in the 4th quarter worth about $527,000. Finally, Nissay Asset Management Corp Japan ADV lifted its stake in GE HealthCare Technologies by 11.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 103,691 shares of the company’s stock worth $8,244,000 after acquiring an additional 10,832 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of GEHC stock opened at $73.13 on Friday. The stock’s fifty day simple moving average is $71.27 and its 200 day simple moving average is $80.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The firm has a market cap of $33.49 billion, a price-to-earnings ratio of 16.89, a P/E/G ratio of 3.19 and a beta of 1.21. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating the consensus estimate 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 return on equity of 25.74% and a net margin of 10.13%. GE HealthCare Technologies’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. On average, analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently issued reports on GEHC. Wells Fargo & Company reduced their price objective on GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Morgan Stanley cut their price target on GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. UBS Group raised 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. Piper Sandler cut their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group cut their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $88.27.

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.