Wesleyan Assurance Society Sells 5,173 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Wesleyan Assurance Society lowered its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 59.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,559 shares of the company's stock after selling 5,173 shares during the quarter. Wesleyan Assurance Society's holdings in GE HealthCare Technologies were worth $287,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GEHC. Lindbrook Capital LLC increased its stake in GE HealthCare Technologies by 17.4% in the first quarter. Lindbrook Capital LLC now owns 2,392 shares of the company's stock valued at $193,000 after acquiring an additional 354 shares during the period. Souders Financial Advisors bought a new position in GE HealthCare Technologies during the 1st quarter valued at about $241,000. Teachers Retirement System of The State of Kentucky lifted its holdings in GE HealthCare Technologies by 1.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 248,485 shares of the company's stock valued at $20,055,000 after purchasing an additional 4,672 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in GE HealthCare Technologies by 212.2% during the 1st quarter. J.W. Cole Advisors Inc. now owns 11,818 shares of the company's stock worth $954,000 after acquiring an additional 8,033 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in GE HealthCare Technologies by 250.7% during the 1st quarter. IFP Advisors Inc now owns 9,620 shares of the company's stock worth $777,000 after acquiring an additional 6,877 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GEHC shares. BTIG Research restated a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. The Goldman Sachs Group cut 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 report on Thursday, May 1st. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their price target for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Wells Fargo & Company cut their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Finally, Morgan Stanley lowered their price target on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.55.

GE HealthCare Technologies Stock Up 0.4%

Shares of NASDAQ GEHC traded up $0.30 during mid-day trading on Friday, hitting $77.04. The company had a trading volume of 682,704 shares, compared to its average volume of 4,003,106. The company has a market capitalization of $35.28 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 2.60 and a beta of 1.14. The firm has a 50-day simple moving average of $73.20 and a two-hundred day simple moving average of $77.13. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. The company had revenue of $4.78 billion for the quarter, compared to analysts' expectations of $4.66 billion. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. GE HealthCare Technologies's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. On average, equities analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.18%. GE HealthCare Technologies's dividend payout ratio (DPR) is 2.95%.

GE HealthCare Technologies announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

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.