GE HealthCare Technologies Inc. $GEHC Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. has reduced its stake in GE HealthCare Technologies by 19.5%, now holding approximately 1.79 million shares worth $144.7 million.
• GE HealthCare Technologies reported a quarterly EPS of $1.06, exceeding the consensus estimate of $0.91, alongside a revenue increase of 3.5% year-over-year.
• The company has authorized a $1 billion stock buyback plan, indicating a potential belief that its shares are undervalued.

American Century Companies Inc. lowered its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 19.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,792,872 shares of the company's stock after selling 435,601 shares during the quarter. American Century Companies Inc. owned about 0.39% of GE HealthCare Technologies worth $144,703,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new position in GE HealthCare Technologies in the 1st quarter worth about $25,000. Bogart Wealth LLC grew its holdings 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 acquiring an additional 247 shares in the last quarter. Stonebridge Financial Group LLC grew its holdings 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 acquiring an additional 222 shares in the last quarter. LGT Financial Advisors LLC grew its holdings 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 acquiring an additional 123 shares in the last quarter. Finally, Accredited Wealth Management LLC bought a new position in GE HealthCare Technologies during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $74.00 to $73.00 in a report on Monday, May 5th. BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Wells Fargo & Company dropped 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 report on Thursday, May 1st. Evercore ISI dropped 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. Finally, Piper Sandler dropped their target price on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.55.

GE HealthCare Technologies Stock Down 0.3%

Shares of NASDAQ:GEHC traded down $0.23 during trading on Monday, reaching $73.17. The stock had a trading volume of 2,292,425 shares, compared to its average volume of 4,226,292. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80. The company has a market capitalization of $33.41 billion, a P/E ratio of 14.99, a PEG ratio of 2.80 and a beta of 1.13. 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 firm's 50-day simple moving average is $73.93 and its 200 day simple moving average is $75.42.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.91 by $0.15. The firm had revenue of $5 billion during the quarter, compared to analyst estimates of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. GE HealthCare Technologies's revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm posted $1.00 EPS. As a group, research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, July 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.87%.

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