Cherry Creek Investment Advisors Inc. Sells 10,818 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cherry Creek Investment Advisors Inc. reduced its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 29.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,533 shares of the company's stock after selling 10,818 shares during the quarter. GE HealthCare Technologies makes up approximately 1.1% of Cherry Creek Investment Advisors Inc.'s holdings, making the stock its 23rd largest holding. Cherry Creek Investment Advisors Inc.'s holdings in GE HealthCare Technologies were worth $2,141,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Principal Securities Inc. grew its holdings in GE HealthCare Technologies by 681.1% during the 4th quarter. Principal Securities Inc. now owns 5,983 shares of the company's stock worth $468,000 after acquiring an additional 5,217 shares during the last quarter. Truist Financial Corp lifted its position in shares of GE HealthCare Technologies by 1.9% during the fourth quarter. Truist Financial Corp now owns 82,770 shares of the company's stock worth $6,471,000 after purchasing an additional 1,528 shares in the last quarter. D.A. Davidson & CO. grew its stake in shares of GE HealthCare Technologies by 89.7% during the fourth quarter. D.A. Davidson & CO. now owns 8,959 shares of the company's stock valued at $700,000 after purchasing an additional 4,237 shares during the last quarter. Atria Wealth Solutions Inc. grew its stake in shares of GE HealthCare Technologies by 40.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 32,583 shares of the company's stock valued at $2,547,000 after purchasing an additional 9,444 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of GE HealthCare Technologies by 52.2% in the fourth quarter. Handelsbanken Fonder AB now owns 249,201 shares of the company's stock valued at $19,483,000 after purchasing an additional 85,510 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the stock a "buy" rating in a report on Monday, April 14th. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Piper Sandler lowered their price objective on 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. Finally, Citigroup cut their target price on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.27.

GE HealthCare Technologies Trading Down 0.2%

Shares of GEHC stock traded down $0.12 on Monday, hitting $71.16. The stock had a trading volume of 3,059,261 shares, compared to its average volume of 3,467,808. 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 company has a fifty day moving average price of $69.71 and a two-hundred day moving average price of $77.83. The firm has a market cap of $32.58 billion, a P/E ratio of 14.98, a PEG ratio of 2.40 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its 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 return on equity of 24.95% and a net margin of 11.02%. The firm had revenue of $4.78 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same period in the previous year, the firm earned $0.90 earnings per share. The company's revenue was up 2.7% on a year-over-year basis. As a group, analysts forecast 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 announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were issued 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 dividend payout ratio (DPR) is presently 2.95%.

GE HealthCare Technologies declared that its board has authorized a share repurchase 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 shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is 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.