Commonwealth Equity Services LLC Acquires 20,501 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Commonwealth Equity Services LLC lifted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 8.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265,977 shares of the company's stock after purchasing an additional 20,501 shares during the period. Commonwealth Equity Services LLC owned about 0.06% of GE HealthCare Technologies worth $21,467,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new position in GE HealthCare Technologies in the first quarter valued at about $25,000. Bogart Wealth LLC increased its position in GE HealthCare Technologies by 260.0% in the first quarter. Bogart Wealth LLC now owns 342 shares of the company's stock worth $28,000 after buying an additional 247 shares during the last quarter. Stonebridge Financial Group LLC lifted its position in shares of GE HealthCare Technologies by 165.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after buying an additional 222 shares during the last quarter. LGT Financial Advisors LLC lifted its position in shares of GE HealthCare Technologies by 46.2% during the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after buying an additional 123 shares during the last quarter. Finally, Accredited Wealth Management LLC bought a new position in shares of GE HealthCare Technologies during the 4th quarter worth $30,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $69.96 on Thursday. The company's fifty day moving average price is $73.59 and its 200-day moving average price is $76.40. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. The firm has a market capitalization of $31.94 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 2.70 and a beta of 1.13. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.15. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%. The business had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter last year, the business posted $1.00 earnings per share. The company's revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, July 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.87%.

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

Analyst Upgrades and Downgrades

GEHC has been the subject of a number of research reports. Piper Sandler cut their target price on shares of 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. The Goldman Sachs Group dropped their target price on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their price objective for the stock from $74.00 to $73.00 in a report on Monday, May 5th. Evercore ISI decreased their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $88.55.

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.

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