Ameriprise Financial Inc. Raises Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Ameriprise Financial Inc. grew its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 38.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 515,985 shares of the company’s stock after buying an additional 144,495 shares during the period. Ameriprise Financial Inc. owned approximately 0.11% of GE HealthCare Technologies worth $40,337,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GEHC. Norges Bank purchased a new position in GE HealthCare Technologies in the fourth quarter worth about $488,531,000. Capital Research Global Investors raised its holdings in GE HealthCare Technologies by 4.5% in the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company’s stock worth $4,755,851,000 after buying an additional 2,608,066 shares during the last quarter. Van ECK Associates Corp raised its holdings in GE HealthCare Technologies by 107.3% in the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock worth $378,520,000 after buying an additional 2,506,417 shares during the last quarter. Vanguard Group Inc. raised its holdings in GE HealthCare Technologies by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock worth $4,107,378,000 after buying an additional 2,155,429 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in GE HealthCare Technologies by 18.4% in the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company’s stock worth $630,751,000 after buying an additional 1,252,613 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $69.87 on Monday. The firm has a 50 day moving average of $72.49 and a 200 day moving average of $80.58. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $31.99 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. 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 announced its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (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 analyst estimates of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 earnings per share. On average, research analysts anticipate 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 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 reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

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 issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.20%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio is currently 2.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GEHC. Wells Fargo & Company reduced their price target 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. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. The Goldman Sachs Group reduced their price target 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. Morgan Stanley reduced their price target on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Finally, Citigroup reduced their price target on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average target price of $88.27.

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.