GE HealthCare Technologies Inc. (NASDAQ:GEHC) Holdings Lowered by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lowered its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 473,223 shares of the company's stock after selling 7,196 shares during the quarter. Douglas Lane & Associates LLC owned 0.10% of GE HealthCare Technologies worth $38,194,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new stake in GE HealthCare Technologies in the fourth quarter valued at approximately $488,531,000. Capital Research Global Investors lifted its position in shares of GE HealthCare Technologies by 4.5% during the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock valued at $4,755,851,000 after buying an additional 2,608,066 shares in the last quarter. Van ECK Associates Corp grew its stake in GE HealthCare Technologies by 107.3% in the 4th quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company's stock valued at $378,520,000 after acquiring an additional 2,506,417 shares during the period. Vanguard Group Inc. boosted its holdings in GE HealthCare Technologies by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock worth $4,107,378,000 after buying an additional 2,155,429 shares during the last quarter. Finally, Eminence Capital LP purchased a new stake in GE HealthCare Technologies during the 4th quarter worth approximately $102,574,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GEHC shares. Wells Fargo & Company lowered their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the stock a "buy" rating in a research note on Monday, April 14th. The Goldman Sachs Group decreased their price objective on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Morgan Stanley decreased their price target on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Finally, Citigroup dropped their target price on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and an average target price of $88.27.

GE HealthCare Technologies Stock Up 0.8%

Shares of GEHC traded up $0.56 during midday trading on Thursday, reaching $71.69. 683,791 shares of the company were exchanged, compared to its average volume of 4,114,369. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average price of $68.35 and a 200-day moving average price of $78.84. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a market cap of $32.83 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the company earned $0.90 earnings per share. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date was Friday, April 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is 2.95%.

GE HealthCare Technologies declared that its board has initiated a stock buyback program on Wednesday, April 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

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.