GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stake Cut by Praxis Investment Management Inc.

Praxis Investment Management Inc. lessened its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 31.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,890 shares of the company's stock after selling 5,980 shares during the quarter. Praxis Investment Management Inc.'s holdings in GE HealthCare Technologies were worth $1,040,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Principal Securities Inc. grew its position in GE HealthCare Technologies by 681.1% during the fourth quarter. Principal Securities Inc. now owns 5,983 shares of the company's stock valued at $468,000 after purchasing an additional 5,217 shares in the last quarter. Truist Financial Corp grew its holdings in shares of GE HealthCare Technologies by 1.9% during the 4th quarter. Truist Financial Corp now owns 82,770 shares of the company's stock valued at $6,471,000 after acquiring an additional 1,528 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of GE HealthCare Technologies by 89.7% in the fourth quarter. D.A. Davidson & CO. now owns 8,959 shares of the company's stock worth $700,000 after acquiring an additional 4,237 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of GE HealthCare Technologies by 40.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 32,583 shares of the company's stock worth $2,547,000 after acquiring an additional 9,444 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in GE HealthCare Technologies by 52.2% during the fourth quarter. Handelsbanken Fonder AB now owns 249,201 shares of the company's stock valued at $19,483,000 after purchasing an additional 85,510 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GEHC shares. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Morgan Stanley dropped their price objective on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their price objective for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Piper Sandler decreased their target price on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, 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 report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.27.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $71.28 on Friday. The firm has a market capitalization of $32.64 billion, a PE ratio of 15.01, a PEG ratio of 2.40 and a beta of 1.13. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year high of $94.80. 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's fifty day simple moving average is $69.57 and its 200 day simple moving average is $77.92.

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. The company had revenue of $4.78 billion during 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%. The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 earnings per share. On average, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

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

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

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