Diversified Trust Co Buys Shares of 2,495 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Diversified Trust Co acquired a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,495 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors have also recently made changes to their positions in the stock. Capital Research Global Investors raised its stake in shares of GE HealthCare Technologies by 4.5% in the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company’s stock worth $4,755,851,000 after buying an additional 2,608,066 shares during the period. Vanguard Group Inc. raised its stake in shares of GE HealthCare Technologies by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock worth $4,107,378,000 after buying an additional 2,155,429 shares during the period. Geode Capital Management LLC raised its stake in shares of GE HealthCare Technologies by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company’s stock worth $882,777,000 after buying an additional 342,819 shares during the period. Invesco Ltd. raised its stake in shares of GE HealthCare Technologies by 18.4% in the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company’s stock worth $630,751,000 after buying an additional 1,252,613 shares during the period. Finally, Norges Bank bought a new position in shares of GE HealthCare Technologies in the fourth quarter worth about $488,531,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Evercore ISI decreased their price objective on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and decreased their target price for the company from $74.00 to $73.00 in a research note on Monday, May 5th. Morgan Stanley decreased their target price on GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. The Goldman Sachs Group decreased their target price on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup decreased their target price on GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.27.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $76.12 on Thursday. 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 50 day simple moving average is $71.38 and its two-hundred day simple moving average is $77.51. The company has a market cap of $34.85 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 2.56 and a beta of 1.14.

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

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.18%. GE HealthCare Technologies’s payout ratio is 2.95%.

GE HealthCare Technologies declared that its board has authorized a stock buyback plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is 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.