First Hawaiian Bank Buys 498 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

First Hawaiian Bank boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,509 shares of the company’s stock after purchasing an additional 498 shares during the quarter. First Hawaiian Bank’s holdings in GE HealthCare Technologies were worth $2,462,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings 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 worth $209,624,000 after purchasing an additional 512,778 shares during the period. Janney Montgomery Scott LLC grew its position in GE HealthCare Technologies by 17.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 54,529 shares of the company’s stock worth $4,263,000 after buying an additional 7,994 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in GE HealthCare Technologies during the fourth quarter valued at about $196,000. Kingswood Wealth Advisors LLC raised its holdings in GE HealthCare Technologies by 49.8% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 6,813 shares of the company’s stock valued at $533,000 after acquiring an additional 2,265 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of GE HealthCare Technologies by 21.4% in the 4th quarter. Blue Trust Inc. now owns 2,834 shares of the company’s stock worth $222,000 after acquiring an additional 500 shares during the period. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Trading Up 0.5%

GEHC stock opened at $71.53 on Friday. The business has a fifty day moving average price of $69.21 and a 200 day moving average price of $79.20. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The stock has a market capitalization of $32.75 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share 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 company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the company posted $0.90 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies declared that its Board of Directors has initiated a share buyback program on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.20%. The ex-dividend date was Friday, April 25th. GE HealthCare Technologies’s payout ratio is presently 2.95%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GEHC shares. 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 note on Thursday, May 1st. Piper Sandler lowered their price objective on GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Evercore ISI cut their target price on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company 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. Finally, UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.