D. E. Shaw & Co. Inc. Has $2.02 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

D. E. Shaw & Co. Inc. boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 44.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,810 shares of the company’s stock after buying an additional 7,980 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in GE HealthCare Technologies were worth $2,018,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cherry Creek Investment Advisors Inc. raised its position in shares of GE HealthCare Technologies by 0.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock worth $2,920,000 after acquiring an additional 114 shares in the last quarter. Independence Bank of Kentucky raised its position in shares of GE HealthCare Technologies by 6.0% in the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock worth $158,000 after acquiring an additional 114 shares in the last quarter. Haverford Trust Co raised its position 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 worth $383,000 after acquiring an additional 115 shares in the last quarter. Tandem Capital Management Corp ADV raised its position in shares of GE HealthCare Technologies by 0.4% in the 4th quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock worth $2,205,000 after acquiring an additional 118 shares in the last quarter. Finally, Arcus Capital Partners LLC raised its position in shares of GE HealthCare Technologies by 3.0% in the 4th quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock worth $322,000 after acquiring an additional 119 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GEHC. Piper Sandler decreased their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company decreased their target price 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. Citigroup decreased their target price on GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and decreased their target price for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Finally, Morgan Stanley decreased their target price on GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.27.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $69.58 on Thursday. The business’s 50 day simple moving average is $70.62 and its 200 day simple moving average is $79.89. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The company has a market cap of $31.86 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced 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. 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 authorized a stock repurchase program on Wednesday, April 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board 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.