GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stock Position Trimmed by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. lessened its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 5.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 209,947 shares of the company's stock after selling 11,562 shares during the period. Braun Stacey Associates Inc.'s holdings in GE HealthCare Technologies were worth $16,945,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Capital Research Global Investors raised its stake in shares of GE HealthCare Technologies by 4.5% in the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock valued at $4,755,851,000 after acquiring an additional 2,608,066 shares during the period. Vanguard Group Inc. grew its holdings in GE HealthCare Technologies by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock valued at $4,107,378,000 after purchasing an additional 2,155,429 shares in the last quarter. Geode Capital Management LLC grew its holdings in GE HealthCare Technologies by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company's stock valued at $882,777,000 after purchasing an additional 342,819 shares in the last quarter. Invesco Ltd. grew its holdings in GE HealthCare Technologies by 18.4% during the 4th quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock valued at $630,751,000 after purchasing an additional 1,252,613 shares in the last quarter. Finally, Norges Bank acquired a new stake in GE HealthCare Technologies during the 4th quarter valued at $488,531,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Up 0.0%

GEHC stock traded up $0.03 during mid-day trading on Friday, hitting $76.15. 1,800,530 shares of the company were exchanged, compared to its average volume of 3,523,766. The company has a market capitalization of $34.87 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The firm has a fifty day simple moving average of $71.72 and a 200 day simple moving average of $77.47.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted 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. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the firm posted $0.90 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies declared that its board has initiated a share buyback program on Wednesday, April 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be given a $0.035 dividend. The ex-dividend date is Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. GE HealthCare Technologies's payout ratio is currently 2.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GEHC shares. Citigroup lowered their price target on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the company a "buy" rating in a report on Monday, April 14th. Piper Sandler lowered their price target on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group lowered their price target on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Evercore ISI lowered their price target 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. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $88.27.

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.