Mackenzie Financial Corp Has $6.91 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Mackenzie Financial Corp increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,595 shares of the company’s stock after purchasing an additional 4,867 shares during the quarter. Mackenzie Financial Corp’s holdings in GE HealthCare Technologies were worth $6,908,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Capital Research Global Investors boosted its holdings in shares of 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 purchasing an additional 2,608,066 shares during the period. Geode Capital Management LLC boosted its holdings in shares of GE HealthCare Technologies by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company’s stock worth $882,777,000 after purchasing an additional 342,819 shares during the period. Invesco Ltd. boosted its holdings in shares of GE HealthCare Technologies by 18.4% during the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company’s stock worth $630,751,000 after purchasing an additional 1,252,613 shares during the period. Dimensional Fund Advisors LP lifted its stake in 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 acquiring an additional 596,486 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in 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 acquiring an additional 555,816 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and reduced their target price for the company from $74.00 to $73.00 in a research note on Monday, May 5th. The Goldman Sachs Group reduced 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 note on Thursday, May 1st. Piper Sandler reduced their target price on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Finally, BTIG Research reiterated a “buy” rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.55.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock opened at $71.32 on Friday. The firm has a fifty day simple moving average of $73.57 and a 200-day simple moving average of $76.79. The company has a current ratio of 1.16, a quick ratio of 0.76 and a debt-to-equity ratio of 0.85. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The stock has a market capitalization of $32.66 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 2.43 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $4.96 billion. During the same period in the previous year, the company earned $1.00 earnings per share. GE HealthCare Technologies’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, 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 of Directors has initiated 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 buy up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies’s payout ratio is 2.95%.

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.