Cooper Investors PTY Ltd. Sells 37,647 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cooper Investors PTY Ltd. reduced its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 14.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 215,851 shares of the company's stock after selling 37,647 shares during the period. GE HealthCare Technologies accounts for approximately 2.8% of Cooper Investors PTY Ltd.'s investment portfolio, making the stock its 13th biggest position. Cooper Investors PTY Ltd.'s holdings in GE HealthCare Technologies were worth $17,421,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Haverford Trust Co lifted its position in GE HealthCare Technologies by 2.4% during the fourth quarter. Haverford Trust Co now owns 4,896 shares of the company's stock worth $383,000 after purchasing an additional 115 shares during the period. Intact Investment Management Inc. increased its stake in shares of GE HealthCare Technologies by 15.4% in the fourth quarter. Intact Investment Management Inc. now owns 900 shares of the company's stock valued at $70,000 after buying an additional 120 shares during the period. LGT Financial Advisors LLC raised its holdings in GE HealthCare Technologies by 46.2% in 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. Integrated Wealth Concepts LLC boosted its position in GE HealthCare Technologies by 0.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 17,173 shares of the company's stock worth $1,343,000 after buying an additional 126 shares during the period. Finally, Parallel Advisors LLC grew its holdings in GE HealthCare Technologies by 1.9% during the 4th quarter. Parallel Advisors LLC now owns 7,135 shares of the company's stock worth $558,000 after acquiring an additional 135 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Up 1.1%

Shares of GEHC stock traded up $0.77 during trading hours on Wednesday, reaching $72.75. The company had a trading volume of 4,778,791 shares, compared to its average volume of 3,500,653. The company has a market cap of $33.31 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 2.40 and a beta of 1.13. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The business has a fifty day simple moving average of $69.88 and a 200-day simple moving average of $77.79.

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

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.19%. 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 of Directors has approved a stock repurchase plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

GEHC has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their target price for the stock from $74.00 to $73.00 in a report on Monday, May 5th. Citigroup decreased their price target on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Evercore ISI reduced their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Piper Sandler dropped their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Three research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

GE HealthCare Technologies Company 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.