GF Fund Management CO. LTD. Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

GF Fund Management CO. LTD. purchased a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 97,924 shares of the company’s stock, valued at approximately $7,656,000.

Several other institutional investors also recently modified their holdings of the business. Susquehanna Fundamental Investments LLC bought a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $20,891,000. Cathy Pareto & Associates Inc. bought a new stake in shares of GE HealthCare Technologies in the fourth quarter worth $670,000. Apollon Wealth Management LLC increased its position 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 during the last quarter. Argus Investors Counsel Inc. bought a new position in GE HealthCare Technologies in the fourth quarter valued at about $224,000. Finally, JPMorgan Chase & Co. boosted its position in GE HealthCare Technologies by 29.8% in the third quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company’s stock worth $209,624,000 after purchasing an additional 512,778 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on GEHC. UBS Group raised 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 report on Monday, May 5th. Evercore ISI cut their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Piper Sandler decreased their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley lowered their target price on 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. 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 report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.27.

GE HealthCare Technologies Trading Down 0.4%

GEHC opened at $69.16 on Friday. 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 cap of $31.67 billion, a price-to-earnings ratio of 15.97, a PEG 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. The stock has a fifty day moving average price of $70.10 and a 200-day moving average price of $79.64.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly 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. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were given a dividend of $0.035 per share. The ex-dividend date was Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.20%. GE HealthCare Technologies’s payout ratio is 2.95%.

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

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.