Cary Street Partners Financial LLC Invests $542,000 in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cary Street Partners Financial LLC purchased a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,936 shares of the company's stock, valued at approximately $542,000.

Several other large investors also recently made changes to their positions in GEHC. Capital Research Global Investors boosted its holdings in GE HealthCare Technologies by 4.5% in the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock valued at $4,755,851,000 after purchasing an additional 2,608,066 shares during the period. Vanguard Group Inc. lifted 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 valued at $4,107,378,000 after buying an additional 2,155,429 shares during the period. Geode Capital Management LLC lifted 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 valued at $882,777,000 after buying an additional 342,819 shares during the period. Invesco Ltd. grew its position in GE HealthCare Technologies by 18.4% during 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 in the last quarter. Finally, Norges Bank bought a new position in GE HealthCare Technologies during the fourth quarter valued at about $488,531,000. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Price Performance

Shares of GEHC traded up $4.24 during mid-day trading on Monday, reaching $74.11. The company had a trading volume of 8,029,063 shares, compared to its average volume of 3,380,861. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The company's 50-day moving average is $72.49 and its 200-day moving average is $80.58. The company has a market capitalization of $33.93 billion, a P/E ratio of 17.12, a P/E/G ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. GE HealthCare Technologies's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. On average, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.19%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.95%.

GE HealthCare Technologies announced that its board has approved 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 repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GEHC shares. Citigroup decreased their price objective on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Evercore ISI decreased their price target on shares of 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. The Goldman Sachs Group dropped their price objective on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company reduced their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the stock a "buy" rating in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $88.27.

GE HealthCare Technologies Company 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.