Avity Investment Management Inc. Has $31 Million Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Avity Investment Management Inc. lifted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 384,025 shares of the company's stock after buying an additional 4,947 shares during the period. GE HealthCare Technologies makes up 2.5% of Avity Investment Management Inc.'s holdings, making the stock its 20th largest position. Avity Investment Management Inc. owned about 0.08% of GE HealthCare Technologies worth $30,995,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Generali Investments Management Co LLC raised its position in shares of GE HealthCare Technologies by 141.4% during the first quarter. Generali Investments Management Co LLC now owns 11,352 shares of the company's stock worth $916,000 after purchasing an additional 6,649 shares during the period. Signal Advisors Wealth LLC raised its position in shares of GE HealthCare Technologies by 2.7% during the first quarter. Signal Advisors Wealth LLC now owns 14,137 shares of the company's stock worth $1,141,000 after purchasing an additional 373 shares during the period. Breakwater Capital Group acquired a new stake in shares of GE HealthCare Technologies during the first quarter worth $210,000. Beacon Financial Group raised its position in shares of GE HealthCare Technologies by 12.5% during the first quarter. Beacon Financial Group now owns 6,614 shares of the company's stock worth $534,000 after purchasing an additional 735 shares during the period. Finally, Firethorn Wealth Partners LLC acquired a new stake in shares of GE HealthCare Technologies during the first quarter worth $209,000. Institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on GEHC shares. BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the company a "buy" rating in a research report on Monday, April 14th. The Goldman Sachs Group reduced their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Evercore ISI reduced their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Piper Sandler decreased their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company lowered their target price on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Three equities research 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $88.27.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock traded up $0.07 during midday trading on Friday, reaching $71.62. 2,152,672 shares of the company's stock were exchanged, compared to its average volume of 3,439,902. 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 stock's 50-day simple moving average is $68.01 and its 200 day simple moving average is $78.69. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The firm has a market cap of $32.79 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 3.19 and a beta of 1.13.

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

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were given a dividend of $0.035 per share. The ex-dividend date was Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.20%. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.95%.

GE HealthCare Technologies declared that its board has initiated a share buyback program on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

GE HealthCare Technologies 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.