Cresset Asset Management LLC Sells 20,390 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cresset Asset Management LLC lessened its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 74.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,124 shares of the company's stock after selling 20,390 shares during the quarter. Cresset Asset Management LLC's holdings in GE HealthCare Technologies were worth $557,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cherry Creek Investment Advisors Inc. grew its holdings in shares of GE HealthCare Technologies by 0.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company's stock valued at $2,920,000 after buying an additional 114 shares during the period. Independence Bank of Kentucky boosted its holdings in shares of GE HealthCare Technologies by 6.0% in the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company's stock valued at $158,000 after buying an additional 114 shares during the last quarter. Haverford Trust Co grew its position in shares of GE HealthCare Technologies by 2.4% in the 4th quarter. Haverford Trust Co now owns 4,896 shares of the company's stock valued at $383,000 after acquiring an additional 115 shares during the period. Tandem Capital Management Corp ADV raised its stake in GE HealthCare Technologies by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company's stock valued at $2,205,000 after buying an additional 118 shares during the period. Finally, Arcus Capital Partners LLC lifted its holdings in GE HealthCare Technologies by 3.0% during the 4th quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company's stock valued at $322,000 after purchasing an additional 119 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Price Performance

NASDAQ:GEHC traded up $0.22 during mid-day trading on Friday, reaching $73.13. The stock had a trading volume of 3,308,976 shares, compared to its average volume of 3,418,814. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The firm has a 50 day moving average price of $71.27 and a two-hundred day moving average price of $80.16. The stock has a market capitalization of $33.49 billion, a P/E ratio of 16.89, a P/E/G ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned $0.90 EPS. As a group, analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies declared that its board has approved a share repurchase plan on Wednesday, April 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.19%. GE HealthCare Technologies's dividend payout ratio is currently 2.95%.

Analyst Upgrades and Downgrades

GEHC has been the topic of several research analyst reports. The Goldman Sachs Group lowered their price target on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the stock a "buy" rating in a research report on Monday, April 14th. Evercore ISI lowered 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 report on Thursday, May 1st. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. Finally, Piper Sandler reduced their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.