GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Purchased by WD Rutherford LLC

WD Rutherford LLC boosted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,257 shares of the company’s stock after acquiring an additional 1,378 shares during the period. WD Rutherford LLC’s holdings in GE HealthCare Technologies were worth $1,796,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Capital Research Global Investors raised its stake in GE HealthCare Technologies by 4.5% in the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company’s stock valued at $4,755,851,000 after purchasing an additional 2,608,066 shares during the last quarter. Vanguard Group Inc. raised its position in shares of GE HealthCare Technologies by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after buying an additional 2,155,429 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of GE HealthCare Technologies by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company’s stock valued at $882,777,000 after buying an additional 342,819 shares during the period. Invesco Ltd. boosted its position in GE HealthCare Technologies by 18.4% during the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company’s stock worth $630,751,000 after acquiring an additional 1,252,613 shares during the last quarter. Finally, Norges Bank purchased a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $488,531,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GEHC shares. Evercore ISI decreased their price objective on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Citigroup dropped their price objective on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Wall Street Zen raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, May 31st. Finally, Wells Fargo & Company lowered their target price on shares of 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 research 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. According to data from MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average price target of $88.27.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $72.86 on Tuesday. The firm’s fifty day simple moving average is $68.95 and its 200 day simple moving average is $78.21. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The firm has a market capitalization of $33.36 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 3.19 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.66 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share. As a group, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies announced that its board has authorized a share buyback plan 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were given a dividend of $0.035 per share. The ex-dividend date was Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.19%. GE HealthCare Technologies’s payout ratio is currently 2.95%.

GE HealthCare Technologies 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.