Assenagon Asset Management S.A. Acquires 300 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Assenagon Asset Management S.A. raised its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,891 shares of the company’s stock after buying an additional 300 shares during the quarter. Assenagon Asset Management S.A.’s holdings in GE HealthCare Technologies were worth $1,040,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. CoreFirst Bank & Trust bought a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $25,000. Runnymede Capital Advisors Inc. bought a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $28,000. LGT Financial Advisors LLC boosted its position in shares of GE HealthCare Technologies by 46.2% during 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. Accredited Wealth Management LLC bought a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $30,000. Finally, Ameriflex Group Inc. bought a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $31,000. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Trading Up 1.1%

Shares of NASDAQ:GEHC opened at $71.89 on Thursday. The company has a market cap of $32.92 billion, a P/E ratio of 15.13, a PEG ratio of 2.40 and a beta of 1.13. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year high of $94.80. The stock’s fifty day moving average price is $69.21 and its 200-day moving average price is $78.11.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly 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. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. Sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies declared that its Board of Directors has initiated a share repurchase plan on Wednesday, April 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GEHC shares. Wells Fargo & Company dropped their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Evercore ISI dropped their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the company a “buy” rating in a research report on Monday, April 14th. Citigroup lowered their price objective on 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, The Goldman Sachs Group lowered their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Three investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.27.

GE HealthCare Technologies Company 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.