Ellevest Inc. Has $275,000 Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Ellevest Inc. raised its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,515 shares of the company’s stock after acquiring an additional 270 shares during the quarter. Ellevest Inc.’s holdings in GE HealthCare Technologies were worth $275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Ensign Peak Advisors Inc grew its holdings in GE HealthCare Technologies by 15.8% during the fourth quarter. Ensign Peak Advisors Inc now owns 78,790 shares of the company’s stock worth $6,160,000 after purchasing an additional 10,770 shares during the period. Ethic Inc. boosted its stake in shares of GE HealthCare Technologies by 47.6% during the 4th quarter. Ethic Inc. now owns 35,012 shares of the company’s stock worth $2,737,000 after acquiring an additional 11,295 shares during the period. Farallon Capital Management LLC acquired a new position in shares of GE HealthCare Technologies during the 4th quarter worth approximately $9,694,000. Fiduciary Trust Co raised its stake in GE HealthCare Technologies by 11.4% in the 4th quarter. Fiduciary Trust Co now owns 7,126 shares of the company’s stock valued at $557,000 after acquiring an additional 729 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its holdings in GE HealthCare Technologies by 23.1% during the 4th quarter. Frontier Capital Management Co. LLC now owns 296,062 shares of the company’s stock valued at $23,146,000 after purchasing an additional 55,534 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on GEHC. Morgan Stanley dropped their price objective 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, May 6th. The Goldman Sachs Group lowered their price target on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the stock a “buy” rating in a report on Monday, April 14th. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Finally, Wells Fargo & Company reduced their price target on 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. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $88.27.

GE HealthCare Technologies Stock Down 0.9 %

GEHC stock opened at $69.87 on Friday. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The business has a 50-day simple moving average of $72.49 and a 200 day simple moving average of $80.64. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a market cap of $31.99 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.91 by $0.10. The company had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 EPS. Sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be given 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 0.20%. GE HealthCare Technologies’s dividend payout ratio is currently 2.95%.

GE HealthCare Technologies announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is 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.