Jefferies Financial Group Inc. Increases Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Jefferies Financial Group Inc. increased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 37.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 143,673 shares of the company’s stock after buying an additional 39,333 shares during the period. Jefferies Financial Group Inc.’s holdings in GE HealthCare Technologies were worth $11,232,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. CoreFirst Bank & Trust acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at about $25,000. Runnymede Capital Advisors Inc. purchased a new position in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $28,000. LGT Financial Advisors LLC grew its holdings in shares of GE HealthCare Technologies by 46.2% in the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock valued at $30,000 after purchasing an additional 123 shares in the last quarter. Accredited Wealth Management LLC acquired a new position in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $30,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $32,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Down 0.9%

GEHC stock opened at $69.87 on Monday. The company has a fifty day moving average price of $72.49 and a 200 day moving average price of $80.58. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The company has a market cap of $31.99 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83.

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

GE HealthCare Technologies declared that its board has authorized a share buyback program on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently weighed in on GEHC. 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 report on Wednesday, April 30th. Evercore ISI dropped their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the company a “buy” rating in a report on Monday, April 14th. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $74.00 to $73.00 in a report on Monday, May 5th. Finally, Wells Fargo & Company lowered their price target 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, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.27.

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.