Archer Investment Corp Buys 530 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Archer Investment Corp grew its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 404.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 661 shares of the company’s stock after purchasing an additional 530 shares during the period. Archer Investment Corp’s holdings in GE HealthCare Technologies were worth $51,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in GE HealthCare Technologies by 14.7% during the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after acquiring an additional 5,693,244 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in GE HealthCare Technologies during the second quarter worth about $112,365,000. Trian Fund Management L.P. bought a new stake in GE HealthCare Technologies during the second quarter worth about $109,092,000. Ameriprise Financial Inc. boosted its stake in GE HealthCare Technologies by 84.4% during the third quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock worth $181,578,000 after acquiring an additional 1,221,436 shares in the last quarter. Finally, Barclays PLC bought a new stake in GE HealthCare Technologies during the second quarter worth about $92,462,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

GEHC has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Argus lifted their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Evercore ISI lifted their target price on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Citigroup lifted their target price on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $66.00 to $88.00 in a report on Monday, February 12th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $95.08.

GE HealthCare Technologies Stock Down 0.8 %

Shares of GEHC stock opened at $85.19 on Thursday. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.50. The stock has a market cap of $38.87 billion, a P/E ratio of 28.21, a P/E/G ratio of 2.99 and a beta of 0.94. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 1.18. The company has a 50 day simple moving average of $88.61 and a two-hundred day simple moving average of $77.65.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Tuesday, February 6th. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the prior year, the company earned $1.31 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be issued a dividend of $0.03 per share. The ex-dividend date is Thursday, April 18th. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio is currently 3.97%.

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.