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

Avity Investment Management Inc. grew its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 384,025 shares of the company's stock after buying an additional 4,947 shares during the quarter. GE HealthCare Technologies comprises 2.5% of Avity Investment Management Inc.'s holdings, making the stock its 20th biggest position. Avity Investment Management Inc. owned about 0.08% of GE HealthCare Technologies worth $30,995,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Haverford Trust Co raised its position in shares of GE HealthCare Technologies by 2.4% during the 4th quarter. Haverford Trust Co now owns 4,896 shares of the company's stock worth $383,000 after buying an additional 115 shares in the last quarter. Arcus Capital Partners LLC raised its holdings in shares of GE HealthCare Technologies by 3.0% in the 4th quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company's stock worth $322,000 after purchasing an additional 119 shares in the last quarter. Intact Investment Management Inc. raised its holdings in shares of GE HealthCare Technologies by 15.4% in the 4th quarter. Intact Investment Management Inc. now owns 900 shares of the company's stock worth $70,000 after purchasing an additional 120 shares in the last quarter. LGT Financial Advisors LLC raised its holdings in shares of 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 purchasing an additional 123 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of GE HealthCare Technologies by 0.7% in the 4th quarter. Integrated Wealth Concepts LLC now owns 17,173 shares of the company's stock worth $1,343,000 after purchasing an additional 126 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of recent research reports. Morgan Stanley cut their price objective on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. The Goldman Sachs Group cut their price objective 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. BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the company a "buy" rating in a research report on Monday, April 14th. Wells Fargo & Company cut their price objective on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, Citigroup cut their price objective on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Three equities research 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.27.

GE HealthCare Technologies Trading Up 0.1%

Shares of GEHC stock traded up $0.05 during trading hours on Monday, reaching $71.67. 2,075,612 shares of the stock traded hands, compared to its average volume of 3,438,778. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The business has a fifty day moving average price of $68.01 and a 200 day moving average price of $78.62. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $32.82 billion, a PE ratio of 16.55, a PEG ratio of 3.19 and a beta of 1.13.

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

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

GE HealthCare Technologies Announces Dividend

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

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.