NorthRock Partners LLC Acquires 3,498 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

NorthRock Partners LLC increased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 127.0% in the fourth quarter, HoldingsChannel reports. The firm owned 6,253 shares of the company’s stock after buying an additional 3,498 shares during the period. NorthRock Partners LLC’s holdings in GE HealthCare Technologies were worth $489,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in GEHC. Norges Bank bought a new stake in shares of GE HealthCare Technologies during the fourth quarter worth approximately $488,531,000. Capital Research Global Investors boosted its holdings in shares of GE HealthCare Technologies by 4.5% during the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company’s stock worth $4,755,851,000 after acquiring an additional 2,608,066 shares during the period. Van ECK Associates Corp boosted its holdings in shares of GE HealthCare Technologies by 107.3% during the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock worth $378,520,000 after acquiring an additional 2,506,417 shares during the period. Vanguard Group Inc. boosted its holdings in shares of GE HealthCare Technologies by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock worth $4,107,378,000 after acquiring an additional 2,155,429 shares during the period. Finally, Eminence Capital LP bought a new stake in shares of GE HealthCare Technologies during the fourth quarter worth approximately $102,574,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Up 0.3%

Shares of NASDAQ:GEHC opened at $73.13 on Friday. The company has a fifty day moving average of $71.27 and a 200-day moving average of $80.21. The company has a market capitalization of $33.49 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80.

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, topping the consensus estimate of $0.91 by $0.10. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 earnings per share. On average, equities analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies announced that its Board of Directors has authorized a stock repurchase program on Wednesday, April 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.19%. GE HealthCare Technologies’s dividend payout ratio is 2.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GEHC. Morgan Stanley reduced their price objective on GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the company a “buy” rating in a research report on Monday, April 14th. Evercore ISI dropped their price target on shares of 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. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and dropped their price target for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Finally, Piper Sandler dropped their price target on shares of 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. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $88.27.

GE HealthCare Technologies 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.