Allworth Financial LP Trims Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Allworth Financial LP lowered its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,322 shares of the company's stock after selling 3,312 shares during the quarter. Allworth Financial LP's holdings in GE HealthCare Technologies were worth $6,321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GEHC. CoreFirst Bank & Trust purchased a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $25,000. Runnymede Capital Advisors Inc. purchased a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $28,000. Stonebridge Financial Group LLC increased its holdings in GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock worth $29,000 after acquiring an additional 222 shares in the last quarter. LGT Financial Advisors LLC increased its holdings in GE HealthCare Technologies by 46.2% in the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after acquiring an additional 123 shares in the last quarter. Finally, Accredited Wealth Management LLC purchased a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Trading Down 1.8%

GEHC traded down $1.37 during trading on Friday, reaching $75.13. The company had a trading volume of 1,896,474 shares, compared to its average volume of 3,535,223. The stock has a market cap of $34.40 billion, a P/E ratio of 15.82, a PEG ratio of 2.53 and a beta of 1.14. The business has a 50 day simple moving average of $72.36 and a 200-day simple moving average of $77.35. 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 issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.66 billion. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. GE HealthCare Technologies's revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. On average, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies announced that its board has authorized a share 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 buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

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 paid a $0.035 dividend. The ex-dividend date is Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.19%. GE HealthCare Technologies's payout ratio is 2.95%.

Wall Street Analysts Forecast Growth

GEHC has been the subject of several analyst reports. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a 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 for the company in a report on Thursday, May 1st. Wells Fargo & Company reduced their target price 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. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and reduced their target price for the stock from $74.00 to $73.00 in a report on Monday, May 5th. Finally, BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the stock a "buy" rating in a research note on Monday, April 14th. Three 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. According to MarketBeat.com, GE HealthCare Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $88.55.

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.