Federated Hermes Inc. Trims Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Federated Hermes Inc. trimmed its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 53.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 33,114 shares of the company's stock after selling 38,619 shares during the period. Federated Hermes Inc.'s holdings in GE HealthCare Technologies were worth $2,673,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company cut 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. UBS Group raised shares of 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 research note on Monday, May 5th. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. The Goldman Sachs Group dropped 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 research report on Thursday, May 1st. Finally, BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, GE HealthCare Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $88.55.

GE HealthCare Technologies Trading Up 1.1%

Shares of NASDAQ:GEHC opened at $70.64 on Tuesday. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The company's 50 day moving average is $73.62 and its two-hundred day moving average is $76.48. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. The company has a market cap of $32.25 billion, a PE ratio of 14.48, a P/E/G ratio of 2.67 and a beta of 1.13.

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

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be issued a $0.035 dividend. The ex-dividend date is Friday, July 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. GE HealthCare Technologies's dividend payout ratio is presently 2.87%.

GE HealthCare Technologies announced that its Board of Directors has authorized a share buyback program on Wednesday, April 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are 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.

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