Cambridge Investment Research Advisors Inc. Reduces Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cambridge Investment Research Advisors Inc. lowered its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 10.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 98,715 shares of the company's stock after selling 11,607 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in GE HealthCare Technologies were worth $7,967,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC bought a new stake in GE HealthCare Technologies in the fourth quarter valued at approximately $20,891,000. Breakwater Capital Group purchased a new position in shares of GE HealthCare Technologies during the first quarter valued at approximately $210,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of GE HealthCare Technologies by 23.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company's stock valued at $4,105,000 after acquiring an additional 9,769 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of GE HealthCare Technologies by 52.7% during the first quarter. Farther Finance Advisors LLC now owns 4,493 shares of the company's stock valued at $357,000 after acquiring an additional 1,550 shares in the last quarter. Finally, Dark Forest Capital Management LP raised its holdings in shares of GE HealthCare Technologies by 154.4% during the fourth quarter. Dark Forest Capital Management LP now owns 7,343 shares of the company's stock valued at $574,000 after acquiring an additional 4,457 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Down 0.6%

Shares of NASDAQ GEHC traded down $0.48 during trading on Friday, reaching $74.38. The company had a trading volume of 6,672,640 shares, compared to its average volume of 3,514,576. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The stock has a market cap of $34.06 billion, a PE ratio of 15.66, a P/E/G ratio of 2.51 and a beta of 1.14. The business's 50-day moving average is $70.60 and its 200 day moving average is $77.58. 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 released its earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. The firm had revenue of $4.78 billion for the quarter, compared to analysts' expectations of $4.66 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The company's quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Evercore ISI decreased their target price on 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 decreased 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. The Goldman Sachs Group decreased their target price on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Citigroup decreased their target price on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Three 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.27.

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.