St. James Investment Company LLC Grows Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

St. James Investment Company LLC boosted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 214,457 shares of the company’s stock after acquiring an additional 4,723 shares during the quarter. GE HealthCare Technologies accounts for about 2.9% of St. James Investment Company LLC’s holdings, making the stock its 15th biggest holding. St. James Investment Company LLC’s holdings in GE HealthCare Technologies were worth $17,309,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Haverford Trust Co increased its holdings in shares of GE HealthCare Technologies by 2.4% in the 4th quarter. Haverford Trust Co now owns 4,896 shares of the company’s stock valued at $383,000 after acquiring an additional 115 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in GE HealthCare Technologies by 15.4% in the fourth quarter. Intact Investment Management Inc. now owns 900 shares of the company’s stock valued at $70,000 after purchasing an additional 120 shares in the last quarter. LGT Financial Advisors LLC boosted its holdings in GE HealthCare Technologies by 46.2% in the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock valued at $30,000 after purchasing an additional 123 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in GE HealthCare Technologies by 0.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 17,173 shares of the company’s stock valued at $1,343,000 after purchasing an additional 126 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in GE HealthCare Technologies by 1.9% during the fourth quarter. Parallel Advisors LLC now owns 7,135 shares of the company’s stock worth $558,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GEHC. Wall Street Zen raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, May 31st. Evercore ISI reduced 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 note on Thursday, May 1st. Wells Fargo & Company lowered their target price 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. Piper Sandler lowered 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. Finally, The Goldman Sachs Group decreased their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.27.

GE HealthCare Technologies Price Performance

NASDAQ GEHC opened at $76.12 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.98 and a debt-to-equity ratio of 0.73. The company has a market cap of $34.85 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The firm’s 50-day simple moving average is $71.38 and its two-hundred day simple moving average is $77.51.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data 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 11.02% and a return on equity of 24.95%. The company had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the company earned $0.90 earnings per share. GE HealthCare Technologies’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.18%. GE HealthCare Technologies’s payout ratio is 2.95%.

GE HealthCare Technologies announced that its Board of Directors has initiated a share buyback plan on Wednesday, April 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication 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.