Creekmur Asset Management LLC Grows Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Creekmur Asset Management LLC grew its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 16,077.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,118 shares of the company's stock after acquiring an additional 7,074 shares during the quarter. Creekmur Asset Management LLC's holdings in GE HealthCare Technologies were worth $574,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GEHC. Haverford Trust Co lifted its position in GE HealthCare Technologies by 2.4% in the 4th quarter. Haverford Trust Co now owns 4,896 shares of the company's stock worth $383,000 after buying an additional 115 shares during the last quarter. LGT Financial Advisors LLC lifted its position in GE HealthCare Technologies by 46.2% in the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after buying an additional 123 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in GE HealthCare Technologies by 0.7% in 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 last quarter. Parallel Advisors LLC lifted its position in GE HealthCare Technologies by 1.9% in the 4th quarter. Parallel Advisors LLC now owns 7,135 shares of the company's stock worth $558,000 after buying an additional 135 shares during the last quarter. Finally, Sandy Spring Bank lifted its position in GE HealthCare Technologies by 13.2% in the 4th quarter. Sandy Spring Bank now owns 1,175 shares of the company's stock worth $92,000 after buying an additional 137 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Down 0.4%

Shares of NASDAQ GEHC traded down $0.28 during trading on Friday, reaching $75.96. The company had a trading volume of 3,383,572 shares, compared to its average volume of 3,560,874. 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 $34.78 billion, a PE ratio of 15.99, a P/E/G ratio of 2.56 and a beta of 1.14. The business's 50-day moving average is $72.98 and its 200 day moving average is $77.22. 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 quarterly earnings data on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating the consensus estimate 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 company had revenue of $4.78 billion for the quarter, compared to analysts' expectations of $4.66 billion. During the same period last year, the firm posted $0.90 earnings per share. GE HealthCare Technologies's revenue was up 2.7% compared to the same quarter last year. 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 declared that its board has approved a stock repurchase program on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

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

Analyst Ratings Changes

GEHC has been the subject of several recent research reports. 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. Citigroup boosted their price objective on GE HealthCare Technologies from $86.00 to $89.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. 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. Finally, 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. 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's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $88.55.

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.