Calamos Advisors LLC Has $8.78 Million Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Calamos Advisors LLC grew its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 0.7% during the 1st quarter, HoldingsChannel reports. The firm owned 108,774 shares of the company’s stock after acquiring an additional 711 shares during the quarter. Calamos Advisors LLC’s holdings in GE HealthCare Technologies were worth $8,779,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GEHC. Susquehanna Fundamental Investments LLC bought a new stake in GE HealthCare Technologies in the fourth quarter valued at $20,891,000. Breakwater Capital Group acquired a new stake in shares of GE HealthCare Technologies in the 1st quarter valued at $210,000. Flagship Harbor Advisors LLC grew its holdings in shares of GE HealthCare Technologies by 17.4% in the 1st quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company’s stock worth $278,000 after purchasing an additional 511 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of GE HealthCare Technologies by 24.3% in the 1st quarter. Bessemer Group Inc. now owns 6,671 shares of the company’s stock worth $538,000 after purchasing an additional 1,306 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased 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 worth $4,105,000 after purchasing an additional 9,769 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, May 31st. Evercore ISI cut their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the stock a “buy” rating in a report on Monday, April 14th. The Goldman Sachs Group dropped their price target 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. Finally, UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and cut their price objective for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.27.

GE HealthCare Technologies Stock Performance

GEHC stock opened at $76.15 on Friday. The company has a 50 day moving average price of $71.72 and a 200 day moving average price of $77.47. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. 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 stock has a market capitalization of $34.87 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC) last released its 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. 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 during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

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

GE HealthCare Technologies declared that its board has initiated a share repurchase plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

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.