Azzad Asset Management Inc. ADV Has $6.34 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Azzad Asset Management Inc. ADV boosted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 78,561 shares of the company’s stock after acquiring an additional 1,035 shares during the quarter. GE HealthCare Technologies accounts for about 0.7% of Azzad Asset Management Inc. ADV’s holdings, making the stock its 18th biggest position. Azzad Asset Management Inc. ADV’s holdings in GE HealthCare Technologies were worth $6,341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of GEHC. Susquehanna Fundamental Investments LLC purchased a new position in GE HealthCare Technologies during the 4th quarter worth $20,891,000. Asset Management One Co. Ltd. boosted its holdings in GE HealthCare Technologies by 5.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 174,412 shares of the company’s stock worth $13,867,000 after acquiring an additional 9,662 shares during the last quarter. Dark Forest Capital Management LP boosted its holdings in GE HealthCare Technologies by 154.4% during the 4th quarter. Dark Forest Capital Management LP now owns 7,343 shares of the company’s stock worth $574,000 after acquiring an additional 4,457 shares during the last quarter. Allworth Financial LP boosted its holdings in GE HealthCare Technologies by 1,369.3% during the 4th quarter. Allworth Financial LP now owns 81,634 shares of the company’s stock worth $6,382,000 after acquiring an additional 76,078 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in GE HealthCare Technologies by 4.0% during the 4th quarter. Rhumbline Advisers now owns 753,882 shares of the company’s stock worth $58,938,000 after acquiring an additional 29,092 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

GEHC has been the topic of a number of analyst reports. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the stock a “buy” rating in a report on Monday, April 14th. UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $74.00 to $73.00 in a report on Monday, May 5th. Piper Sandler cut their price objective on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Citigroup cut their price objective on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Finally, Wall Street Zen raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average price target of $88.27.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $72.25 on Friday. The company’s 50-day moving average is $68.67 and its 200 day moving average is $78.34. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The company has a market capitalization of $33.08 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data 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 return on equity of 25.74% and a net margin of 10.13%. The business had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the business posted $0.90 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies announced that its Board of Directors has initiated a share buyback plan 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

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

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.