Arkadios Wealth Advisors Purchases New Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Key Points

• Arkadios Wealth Advisors acquired a new stake in GE HealthCare Technologies, purchasing 12,279 shares valued at approximately $991,000.
• Brokerages have adjusted their price targets for GE HealthCare Technologies, with Wells Fargo lowering their target from $103.00 to $89.00 and Goldman Sachs from $94.00 to $82.00, while the consensus rating remains a "Moderate Buy".
• GE HealthCare Technologies announced a share buyback program worth $1 billion and declared a quarterly dividend of $0.035 per share, signifying confidence in the company's valuation.

Arkadios Wealth Advisors bought a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,279 shares of the company's stock, valued at approximately $991,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new stake in shares of GE HealthCare Technologies during the first quarter worth $25,000. Bogart Wealth LLC raised its holdings in GE HealthCare Technologies by 260.0% in the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after acquiring an additional 247 shares during the last quarter. Stonebridge Financial Group LLC lifted its stake 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 purchasing an additional 222 shares in the last quarter. LGT Financial Advisors LLC grew its position in shares of GE HealthCare Technologies by 46.2% in the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after purchasing an additional 123 shares in the last quarter. Finally, Accredited Wealth Management LLC purchased a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on GEHC. Wells Fargo & Company dropped their target price on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Piper Sandler cut their price objective on shares of 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. BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. The Goldman Sachs Group reduced 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 research report on Thursday, May 1st. Finally, UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price objective for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. Three analysts have rated the stock with a hold rating and nine have given a 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 Performance

Shares of GE HealthCare Technologies stock opened at $69.85 on Friday. The stock has a market capitalization of $31.89 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 2.07 and a beta of 1.13. The firm's fifty day simple moving average is $73.59 and its 200-day simple moving average is $76.64. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.76. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.15. The business had revenue of $5 billion during the quarter, compared to analysts' expectations of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business's revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.00 earnings per share. As a group, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies declared that its Board of Directors has approved a share buyback program on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.87%.

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.

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