GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Purchased by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. boosted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 58.9% in the first quarter, HoldingsChannel.com reports. The firm owned 6,043 shares of the company’s stock after purchasing an additional 2,240 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in GE HealthCare Technologies were worth $488,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at $20,891,000. Breakwater Capital Group acquired a new stake in shares of GE HealthCare Technologies during the 1st quarter valued at $210,000. Flagship Harbor Advisors LLC lifted its position in shares of GE HealthCare Technologies by 17.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company’s stock valued at $278,000 after acquiring an additional 511 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of GE HealthCare Technologies by 24.3% during the 1st quarter. Bessemer Group Inc. now owns 6,671 shares of the company’s stock valued at $538,000 after acquiring an additional 1,306 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of GE HealthCare Technologies by 23.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company’s stock valued at $4,105,000 after acquiring an additional 9,769 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Trading Up 1.0%

NASDAQ GEHC opened at $76.24 on Friday. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $34.91 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 2.54 and a beta of 1.14. The firm’s fifty day simple moving average is $72.85 and its 200-day simple moving average is $77.25.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. GE HealthCare Technologies’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.18%. The ex-dividend date is Friday, July 25th. GE HealthCare Technologies’s payout ratio is 2.95%.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GEHC. Morgan Stanley cut their price objective on 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 reiterated a “buy” rating on shares of GE HealthCare Technologies in a research report on Monday. The Goldman Sachs Group cut 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. Evercore ISI cut their price objective on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Finally, Wall Street Zen upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus 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.