Cerity Partners LLC Increases Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cerity Partners LLC grew its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 373.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,042 shares of the company's stock after purchasing an additional 241,372 shares during the quarter. Cerity Partners LLC owned about 0.07% of GE HealthCare Technologies worth $24,701,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in GE HealthCare Technologies in the 4th quarter valued at approximately $7,775,000. Independent Advisor Alliance increased its holdings in GE HealthCare Technologies by 5.5% in the 4th quarter. Independent Advisor Alliance now owns 7,886 shares of the company's stock valued at $617,000 after purchasing an additional 414 shares during the last quarter. Wealthfront Advisers LLC grew its stake in shares of GE HealthCare Technologies by 19.0% in the fourth quarter. Wealthfront Advisers LLC now owns 27,180 shares of the company's stock worth $2,125,000 after acquiring an additional 4,348 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of GE HealthCare Technologies by 8.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 14,340 shares of the company's stock worth $1,121,000 after acquiring an additional 1,123 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of GE HealthCare Technologies by 30.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,094 shares of the company's stock worth $164,000 after acquiring an additional 484 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their price target for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Wells Fargo & Company dropped their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the stock a "buy" rating in a research note on Monday, April 14th. Piper Sandler dropped their price target on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group dropped their price target on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, GE HealthCare Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $88.55.

GE HealthCare Technologies Stock Down 1.8%

Shares of GEHC stock traded down $1.37 on Friday, reaching $75.13. 1,896,474 shares of the stock were exchanged, compared to its average volume of 3,535,223. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The company has a market capitalization of $34.40 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 2.53 and a beta of 1.14. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. The business's 50 day moving average price is $72.36 and its 200 day moving average price is $77.35.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The firm had revenue of $4.78 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same period in the previous year, the company earned $0.90 earnings per share. GE HealthCare Technologies's quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be given a $0.035 dividend. The ex-dividend date is Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.19%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.95%.

GE HealthCare Technologies 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.