Wahed Invest LLC Has $891,000 Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Wahed Invest LLC boosted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,391 shares of the company’s stock after buying an additional 675 shares during the period. Wahed Invest LLC’s holdings in GE HealthCare Technologies were worth $891,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cherry Creek Investment Advisors Inc. boosted its position in shares of GE HealthCare Technologies by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock worth $2,920,000 after buying an additional 114 shares during the period. Independence Bank of Kentucky lifted its stake in GE HealthCare Technologies by 6.0% in the fourth quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock valued at $158,000 after acquiring an additional 114 shares during the last quarter. Haverford Trust Co grew its holdings in GE HealthCare Technologies by 2.4% during the fourth quarter. Haverford Trust Co now owns 4,896 shares of the company’s stock worth $383,000 after purchasing an additional 115 shares during the period. Tandem Capital Management Corp ADV raised its stake in GE HealthCare Technologies by 0.4% in the 4th quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock valued at $2,205,000 after acquiring an additional 118 shares during the period. Finally, Arcus Capital Partners LLC lifted its stake in shares of GE HealthCare Technologies by 3.0% during the 4th quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock worth $322,000 after buying an additional 119 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $67.67 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 firm has a market capitalization of $30.98 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 3.19 and a beta of 1.14. The company’s fifty day moving average price is $74.74 and its 200-day moving average price is $81.57. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The firm had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies declared that its board has authorized a stock repurchase plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.035 per share. The ex-dividend date is Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.21%. GE HealthCare Technologies’s payout ratio is presently 3.23%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Evercore ISI decreased 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. BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the stock a “buy” rating in a report on Monday, April 14th. Piper Sandler cut their target price on shares of 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. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, Citigroup reduced their price objective on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.40.

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.