GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 55.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,313 shares of the company’s stock after buying an additional 5,787 shares during the quarter. E Fund Management Co. Ltd.’s holdings in GE HealthCare Technologies were worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Research Global Investors grew its position in GE HealthCare Technologies by 4.5% during the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company’s stock worth $4,755,851,000 after buying an additional 2,608,066 shares during the period. JPMorgan Chase & Co. grew its position in shares of GE HealthCare Technologies by 49.9% in the first quarter. JPMorgan Chase & Co. now owns 5,140,549 shares of the company’s stock valued at $414,894,000 after purchasing an additional 1,711,963 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of GE HealthCare Technologies by 14.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,785,740 shares of the company’s stock valued at $374,162,000 after purchasing an additional 596,486 shares during the last quarter. Northern Trust Corp grew its position in shares of GE HealthCare Technologies by 13.6% in the fourth quarter. Northern Trust Corp now owns 4,631,875 shares of the company’s stock valued at $362,120,000 after purchasing an additional 555,816 shares during the last quarter. Finally, D1 Capital Partners L.P. grew its position in shares of GE HealthCare Technologies by 22.0% in the fourth quarter. D1 Capital Partners L.P. now owns 3,486,584 shares of the company’s stock valued at $272,581,000 after purchasing an additional 629,270 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GEHC. Wells Fargo & Company reduced their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Wall Street Zen raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, May 31st. UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and cut their price target for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Evercore ISI cut their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Finally, BTIG Research reaffirmed a “buy” rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average target price of $88.55.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $75.33 on Thursday. The company’s fifty day simple moving average is $73.83 and its 200-day simple moving average is $75.91. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. The company has a market cap of $34.39 billion, a PE ratio of 15.44, a P/E/G ratio of 2.84 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.15. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter last year, the firm posted $1.00 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, July 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 2.87%.

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.

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.