Leavell Investment Management Inc. Purchases 4,125 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Leavell Investment Management Inc. boosted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 12.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,778 shares of the company's stock after acquiring an additional 4,125 shares during the quarter. Leavell Investment Management Inc.'s holdings in GE HealthCare Technologies were worth $2,968,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GEHC. Norges Bank acquired a new position in GE HealthCare Technologies in the 4th quarter worth approximately $488,531,000. Capital Research Global Investors grew its position in GE HealthCare Technologies by 4.5% in the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock worth $4,755,851,000 after acquiring an additional 2,608,066 shares in the last quarter. Vanguard Group Inc. raised its holdings in GE HealthCare Technologies by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock valued at $4,107,378,000 after buying an additional 2,155,429 shares in the last quarter. Eminence Capital LP acquired a new position in GE HealthCare Technologies in the 4th quarter valued at $102,574,000. Finally, Invesco Ltd. lifted its holdings in shares of GE HealthCare Technologies by 18.4% during the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock worth $630,751,000 after buying an additional 1,252,613 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded down $0.68 during midday trading on Monday, reaching $74.45. The stock had a trading volume of 2,236,585 shares, compared to its average volume of 4,029,788. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80. The firm has a 50 day simple moving average of $72.36 and a 200-day simple moving average of $77.33. 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 firm has a market cap of $34.09 billion, a PE ratio of 15.67, a P/E/G ratio of 2.53 and a beta of 1.14.

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, beating analysts' consensus estimates of $0.91 by $0.10. The firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The company's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.90 earnings per share. As a group, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its board has authorized a share buyback plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, July 25th. This represents a $0.14 annualized dividend and a yield of 0.19%. GE HealthCare Technologies's payout ratio is currently 2.95%.

Analyst Ratings Changes

GEHC has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their price target on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and decreased their price target for the company from $74.00 to $73.00 in a report on Monday, May 5th. Evercore ISI dropped their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. 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. Finally, Wells Fargo & Company lowered their price target 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. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $88.55.

About GE HealthCare Technologies

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.