Breakwater Capital Group Invests $210,000 in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Breakwater Capital Group bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,608 shares of the company’s stock, valued at approximately $210,000.

Other hedge funds have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new stake in GE HealthCare Technologies during the fourth quarter worth $20,891,000. Apollon Wealth Management LLC lifted its holdings in shares of GE HealthCare Technologies by 46.5% during the 4th quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company’s stock worth $1,025,000 after acquiring an additional 4,160 shares during the period. JPMorgan Chase & Co. boosted its position in shares of GE HealthCare Technologies by 29.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company’s stock valued at $209,624,000 after acquiring an additional 512,778 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in GE HealthCare Technologies by 5.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 174,412 shares of the company’s stock valued at $13,867,000 after acquiring an additional 9,662 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in GE HealthCare Technologies by 15.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 131,774 shares of the company’s stock valued at $10,466,000 after acquiring an additional 17,354 shares during the period. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of GEHC stock opened at $71.62 on Friday. The stock’s fifty day moving average is $68.01 and its 200-day moving average is $78.69. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. 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 $32.79 billion, a PE ratio of 16.54, a PEG ratio of 3.19 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $4.78 billion for 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 company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 EPS. Equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were 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 of this dividend was Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio is 2.95%.

GE HealthCare Technologies announced that its Board of Directors has approved a share buyback program on Wednesday, April 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

GEHC has been the topic of a number of recent research reports. Citigroup decreased their price objective on GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group cut their target price on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Piper Sandler lowered their price target on 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. Wells Fargo & Company dropped their price objective 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. Finally, UBS Group upgraded 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 research note on Monday, May 5th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price 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.