GuoLine Advisory Pte Ltd Sells 76,400 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

GuoLine Advisory Pte Ltd trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 19.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 310,700 shares of the company's stock after selling 76,400 shares during the period. GE HealthCare Technologies makes up approximately 2.7% of GuoLine Advisory Pte Ltd's investment portfolio, making the stock its 19th largest holding. GuoLine Advisory Pte Ltd owned 0.07% of GE HealthCare Technologies worth $25,077,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of GE HealthCare Technologies during the 4th quarter valued at $20,891,000. Apollon Wealth Management LLC grew its holdings in GE HealthCare Technologies by 46.5% during the fourth quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company's stock worth $1,025,000 after acquiring an additional 4,160 shares during the period. Argus Investors Counsel Inc. acquired a new position in GE HealthCare Technologies during the fourth quarter worth about $224,000. JPMorgan Chase & Co. grew its holdings in GE HealthCare Technologies by 29.8% during the third quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company's stock worth $209,624,000 after acquiring an additional 512,778 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in shares of GE HealthCare Technologies by 5.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 174,412 shares of the company's stock worth $13,867,000 after purchasing an additional 9,662 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Stock Down 2.2%

Shares of GE HealthCare Technologies stock traded down $1.57 on Friday, hitting $69.96. 7,095,456 shares of the company traded hands, compared to its average volume of 3,452,002. The company has a 50-day moving average price of $68.96 and a 200 day moving average price of $79.06. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The company has a market cap of $32.03 billion, a PE ratio of 16.16, a PEG ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The business's quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GEHC shares. The Goldman Sachs Group dropped their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the stock a "buy" rating in a research report on Monday, April 14th. Citigroup lowered their price objective on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company lowered their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, Piper Sandler lowered their price target on 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 investment 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $88.27.

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.