Eagle Rock Investment Company LLC Buys 9,955 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Eagle Rock Investment Company LLC raised its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 16.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,076 shares of the company’s stock after purchasing an additional 9,955 shares during the period. GE HealthCare Technologies accounts for about 1.0% of Eagle Rock Investment Company LLC’s holdings, making the stock its 28th biggest position. Eagle Rock Investment Company LLC’s holdings in GE HealthCare Technologies were worth $5,817,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of GEHC. Procyon Advisors LLC grew its stake in GE HealthCare Technologies by 78.2% during the first quarter. Procyon Advisors LLC now owns 4,992 shares of the company’s stock valued at $403,000 after acquiring an additional 2,191 shares in the last quarter. Avity Investment Management Inc. lifted its holdings in shares of GE HealthCare Technologies by 1.3% in the 1st quarter. Avity Investment Management Inc. now owns 384,025 shares of the company’s stock worth $30,995,000 after acquiring an additional 4,947 shares during the last quarter. Generali Investments Management Co LLC lifted its holdings in shares of GE HealthCare Technologies by 141.4% in the 1st quarter. Generali Investments Management Co LLC now owns 11,352 shares of the company’s stock worth $916,000 after acquiring an additional 6,649 shares during the last quarter. Signal Advisors Wealth LLC lifted its holdings in shares of GE HealthCare Technologies by 2.7% in the 1st quarter. Signal Advisors Wealth LLC now owns 14,137 shares of the company’s stock worth $1,141,000 after acquiring an additional 373 shares during the last quarter. Finally, Breakwater Capital Group bought a new stake in GE HealthCare Technologies during the 1st quarter valued at $210,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GEHC. Morgan Stanley lowered their price target on shares of 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. Wall Street Zen raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, May 31st. Evercore ISI reduced their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the company a “buy” rating in a research report on Monday, April 14th. Finally, The Goldman Sachs Group cut their price objective on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.27.

GE HealthCare Technologies Stock Performance

GEHC opened at $71.62 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The company has a market cap of $32.79 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 3.19 and a beta of 1.13. The company’s 50 day moving average is $68.01 and its 200 day moving average is $78.69.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results 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 business had revenue of $4.78 billion during the quarter, compared to analyst estimates 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 was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. On average, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

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

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.