Albion Financial Group UT Reduces Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Albion Financial Group UT cut its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 31.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,592 shares of the company's stock after selling 6,233 shares during the period. Albion Financial Group UT's holdings in GE HealthCare Technologies were worth $1,097,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GEHC. Norges Bank purchased a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $488,531,000. Capital Research Global Investors boosted its position in shares of 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 purchasing an additional 2,608,066 shares during the period. Vanguard Group Inc. increased its stake 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 worth $4,107,378,000 after purchasing an additional 2,155,429 shares in the last quarter. Eminence Capital LP bought a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at $102,574,000. Finally, Invesco Ltd. lifted its stake in shares of GE HealthCare Technologies by 18.4% during the 4th quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock valued at $630,751,000 after buying an additional 1,252,613 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GEHC shares. Morgan Stanley cut their price target on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Citigroup decreased their target price on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Piper Sandler dropped their price target on 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, BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the company a "buy" rating in a report on Monday, April 14th. 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 company's stock. According to MarketBeat, GE HealthCare Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

GE HealthCare Technologies Price Performance

Shares of GEHC traded up $0.03 during mid-day trading on Thursday, hitting $76.15. 1,800,530 shares of the stock were exchanged, compared to its average volume of 3,507,785. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.76 and a current ratio of 0.98. The company has a market cap of $34.87 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The firm has a 50-day moving average of $71.38 and a two-hundred day moving average of $77.51.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly 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. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. GE HealthCare Technologies's revenue was up 2.7% on a year-over-year basis. On average, equities analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

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 of this dividend is Friday, July 25th. This represents a $0.14 annualized dividend and a yield of 0.18%. GE HealthCare Technologies's dividend payout ratio is currently 2.95%.

GE HealthCare Technologies announced that its board has initiated a stock 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 often a sign that the company's board of directors believes its shares are undervalued.

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.