GE HealthCare Technologies Inc. (NASDAQ:GEHC) Position Increased by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 23.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 296,062 shares of the company’s stock after acquiring an additional 55,534 shares during the period. Frontier Capital Management Co. LLC’s holdings in GE HealthCare Technologies were worth $23,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. Fullcircle Wealth LLC acquired a new stake in shares of GE HealthCare Technologies in the 4th quarter worth approximately $696,000. D. E. Shaw & Co. Inc. raised its position in GE HealthCare Technologies by 44.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 25,810 shares of the company’s stock valued at $2,018,000 after buying an additional 7,980 shares during the period. Deutsche Bank AG grew its position in GE HealthCare Technologies by 47.0% during the fourth quarter. Deutsche Bank AG now owns 1,754,468 shares of the company’s stock valued at $137,164,000 after purchasing an additional 561,008 shares in the last quarter. Eminence Capital LP acquired a new position in GE HealthCare Technologies in the 4th quarter worth about $102,574,000. Finally, EPG Wealth Management LLC acquired a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at $766,000. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on GEHC. The Goldman Sachs Group cut their target price on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company dropped their target price on GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Morgan Stanley dropped their price target on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Tuesday. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $74.00 to $73.00 in a research report on Monday. Finally, BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the company a “buy” rating in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $88.27.

GE HealthCare Technologies Stock Up 2.5 %

Shares of NASDAQ GEHC opened at $70.53 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The stock has a market capitalization of $32.30 billion, a PE ratio of 16.29, a P/E/G ratio of 3.19 and a beta of 1.21. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80. The business’s fifty day moving average price is $72.78 and its 200-day moving average price is $80.84.

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 analysts’ consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The business had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies announced that its board has authorized a stock repurchase program on Wednesday, April 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

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

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.