Assenagon Asset Management S.A. Boosts Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Assenagon Asset Management S.A. boosted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,891 shares of the company’s stock after acquiring 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 reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Capital Research Global Investors increased its position in 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 valued at $4,755,851,000 after acquiring an additional 2,608,066 shares during the last quarter. Vanguard Group Inc. increased its position in GE HealthCare Technologies by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after acquiring an additional 2,155,429 shares during the last quarter. Geode Capital Management LLC increased its position in GE HealthCare Technologies by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company’s stock valued at $882,777,000 after acquiring an additional 342,819 shares during the last quarter. Invesco Ltd. raised its holdings in GE HealthCare Technologies by 18.4% in the 4th quarter. Invesco Ltd. now owns 8,067,927 shares of the company’s stock worth $630,751,000 after purchasing an additional 1,252,613 shares during the period. Finally, Norges Bank bought a new position in GE HealthCare Technologies in the 4th quarter worth $488,531,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

GEHC has been the subject of several recent research reports. Evercore ISI cut their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Wells Fargo & Company cut their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and cut their price target for the company from $74.00 to $73.00 in a report on Monday, May 5th. Piper Sandler cut their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the company a “buy” rating in a report on Monday, April 14th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.27.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $71.89 on Thursday. The firm has a market cap of $32.92 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 2.40 and a beta of 1.13. The company has a quick ratio of 0.76, a current ratio of 0.98 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $69.21 and a 200-day moving average price of $78.11. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 earnings per share. As a group, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were paid a $0.035 dividend. 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 dividend payout ratio (DPR) is 2.95%.

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

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.