GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 34.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,090 shares of the company's stock after buying an additional 10,639 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in GE HealthCare Technologies were worth $3,212,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of GE HealthCare Technologies during the fourth quarter worth about $488,531,000. Capital Research Global Investors lifted its position in 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 worth $4,755,851,000 after acquiring an additional 2,608,066 shares during the period. Van ECK Associates Corp grew its stake in shares of 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 purchasing an additional 2,506,417 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of GE HealthCare Technologies by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock valued at $4,107,378,000 after purchasing an additional 2,155,429 shares during the period. Finally, Eminence Capital LP acquired a new position in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $102,574,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Price Performance

Shares of GEHC stock traded up $0.07 during midday trading on Friday, reaching $71.62. 2,152,667 shares of the company traded hands, compared to its average volume of 3,436,057. The firm's 50 day simple moving average is $68.17 and its two-hundred day simple moving average is $78.77. The firm has a market cap of $32.79 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80.

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

GE HealthCare Technologies Announces Dividend

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

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Piper Sandler decreased their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and reduced their target price for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Evercore ISI lowered their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Morgan Stanley dropped their price target on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company reduced their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $88.27.

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.