GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd raised its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 136.1% during the first quarter, HoldingsChannel.com reports. The firm owned 2,111 shares of the company’s stock after buying an additional 1,217 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in GE HealthCare Technologies were worth $170,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in GEHC. Sagespring Wealth Partners LLC acquired a new position in shares of GE HealthCare Technologies in the 4th quarter valued at approximately $213,000. Summit Investment Advisors Inc. raised its position in shares of GE HealthCare Technologies by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 18,988 shares of the company’s stock valued at $1,484,000 after purchasing an additional 605 shares in the last quarter. Savvy Advisors Inc. acquired a new position in shares of GE HealthCare Technologies in the 4th quarter valued at approximately $249,000. Mariner LLC raised its position in shares of GE HealthCare Technologies by 1.2% in the 4th quarter. Mariner LLC now owns 78,747 shares of the company’s stock valued at $6,156,000 after purchasing an additional 917 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of GE HealthCare Technologies in the 4th quarter valued at approximately $1,119,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GEHC shares. Piper Sandler cut their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. BTIG Research reiterated a “buy” rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Evercore ISI lowered their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Morgan Stanley lowered their price target on GE HealthCare Technologies from $78.00 to $74.00 and set an “equal weight” rating for the company in a report on Thursday, July 31st. Finally, UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lowered their price target for the company from $74.00 to $73.00 in a report on Monday, May 5th. 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.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $88.55.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $75.33 on Thursday. The company has a market cap of $34.39 billion, a P/E ratio of 15.44, a PEG ratio of 2.84 and a beta of 1.13. The stock has a fifty day moving average price of $73.83 and a 200 day moving average price of $75.91. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.15. The firm had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.00 EPS. On average, research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies declared that its board has initiated a stock buyback program on Wednesday, April 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, July 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio is presently 2.87%.

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.