4,360 Shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC) Purchased by Alps Advisors Inc.

Alps Advisors Inc. acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,360 shares of the company's stock, valued at approximately $352,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Haverford Trust Co grew its holdings in shares of GE HealthCare Technologies by 2.4% in the fourth quarter. Haverford Trust Co now owns 4,896 shares of the company's stock valued at $383,000 after acquiring an additional 115 shares in the last quarter. LGT Financial Advisors LLC raised its position in GE HealthCare Technologies by 46.2% in the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after acquiring an additional 123 shares during the period. Integrated Wealth Concepts LLC boosted its stake in GE HealthCare Technologies by 0.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 17,173 shares of the company's stock valued at $1,343,000 after acquiring an additional 126 shares during the last quarter. Parallel Advisors LLC grew its position in shares of GE HealthCare Technologies by 1.9% during the 4th quarter. Parallel Advisors LLC now owns 7,135 shares of the company's stock valued at $558,000 after acquiring an additional 135 shares during the period. Finally, Sandy Spring Bank raised its holdings in shares of GE HealthCare Technologies by 13.2% in the 4th quarter. Sandy Spring Bank now owns 1,175 shares of the company's stock worth $92,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GEHC shares. Citigroup increased their target price on shares of GE HealthCare Technologies from $86.00 to $89.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. The Goldman Sachs Group cut their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Piper Sandler reduced their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Morgan Stanley cut their target price on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Three 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $88.55.

GE HealthCare Technologies Stock Down 0.4%

Shares of NASDAQ:GEHC traded down $0.28 on Friday, hitting $75.96. 3,383,572 shares of the company traded hands, compared to its average volume of 3,560,874. The stock has a 50 day simple moving average of $72.98 and a 200-day simple moving average of $77.22. The company has a market cap of $34.78 billion, a PE ratio of 15.99, a PEG ratio of 2.56 and a beta of 1.14. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The company has a quick ratio of 0.76, a current ratio of 0.98 and a debt-to-equity ratio of 0.73.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.66 billion. The business'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 earnings per share. As a group, research analysts expect that GE HealthCare Technologies Inc. will post 4.68 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 Friday, August 15th. Shareholders of record on Friday, July 25th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.18%. The ex-dividend date is Friday, July 25th. GE HealthCare Technologies's payout ratio is 2.95%.

GE HealthCare Technologies announced that its board has initiated a share repurchase plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

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.