WS Management Lllp Makes New $9.54 Million Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

WS Management Lllp purchased a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 4th quarter, Holdings Channel reports. The fund purchased 122,000 shares of the company’s stock, valued at approximately $9,538,000. GE HealthCare Technologies comprises 0.9% of WS Management Lllp’s holdings, making the stock its 17th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at $20,891,000. Cathy Pareto & Associates Inc. bought a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at $670,000. Apollon Wealth Management LLC grew its stake in GE HealthCare Technologies by 46.5% during the fourth quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company’s stock valued at $1,025,000 after acquiring an additional 4,160 shares in the last quarter. Sanibel Captiva Trust Company Inc. grew its stake in GE HealthCare Technologies by 139.9% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 7,484 shares of the company’s stock valued at $585,000 after acquiring an additional 4,364 shares in the last quarter. Finally, Argus Investors Counsel Inc. purchased a new position in GE HealthCare Technologies during the fourth quarter valued at $224,000. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC opened at $73.10 on Tuesday. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The stock has a market capitalization of $33.47 billion, a P/E ratio of 16.88, a PEG ratio of 3.19 and a beta of 1.21. The firm has a fifty day simple moving average of $71.06 and a two-hundred day simple moving average of $80.02. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $4.66 billion. During the same period in the previous year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts expect 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 approved a share repurchase program on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.19%. GE HealthCare Technologies’s dividend payout ratio is presently 2.95%.

Analyst Ratings Changes

GEHC has been the subject of several research analyst reports. UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and cut their target price for the company from $74.00 to $73.00 in a research note on Monday, May 5th. BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the company a “buy” rating in a research note 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 for the company in a research note on Wednesday, April 23rd. Citigroup cut their target price 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. Finally, Evercore ISI cut their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Three research 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.27.

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.