Chicago Capital LLC Increases Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Chicago Capital LLC raised its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 6,410 shares of the company’s stock after acquiring an additional 294 shares during the quarter. Chicago Capital LLC’s holdings in GE HealthCare Technologies were worth $517,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Haverford Trust Co boosted its stake in shares of GE HealthCare Technologies by 2.4% in the fourth quarter. Haverford Trust Co now owns 4,896 shares of the company’s stock valued at $383,000 after purchasing an additional 115 shares during the period. Intact Investment Management Inc. lifted its holdings in GE HealthCare Technologies by 15.4% during the 4th quarter. Intact Investment Management Inc. now owns 900 shares of the company’s stock worth $70,000 after buying an additional 120 shares in the last quarter. LGT Financial Advisors LLC boosted its position in GE HealthCare Technologies by 46.2% in the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock valued at $30,000 after buying an additional 123 shares during the period. Integrated Wealth Concepts LLC grew its stake in shares of GE HealthCare Technologies by 0.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 17,173 shares of the company’s stock worth $1,343,000 after acquiring an additional 126 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of GE HealthCare Technologies by 1.9% during the fourth quarter. Parallel Advisors LLC now owns 7,135 shares of the company’s stock worth $558,000 after acquiring an additional 135 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GEHC shares. The Goldman Sachs Group decreased their target price on 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 decreased their price objective 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. Citigroup lowered their price objective on GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the company a “buy” rating in a report on Monday, April 14th. Finally, UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $74.00 to $73.00 in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.27.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $71.14 on Wednesday. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The firm has a market capitalization of $32.57 billion, a P/E ratio of 14.98, a P/E/G ratio of 2.46 and a beta of 1.13. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76. The company’s fifty day moving average price is $69.07 and its 200 day moving average price is $78.16.

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

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.20%. GE HealthCare Technologies’s dividend payout ratio is presently 2.95%.

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

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.