GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 245,161 shares of the company's stock after selling 4,040 shares during the quarter. Handelsbanken Fonder AB owned 0.05% of GE HealthCare Technologies worth $19,787,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of GEHC. JPMorgan Chase & Co. increased its stake in GE HealthCare Technologies by 29.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company's stock worth $209,624,000 after purchasing an additional 512,778 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in GE HealthCare Technologies by 19.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 5,076 shares of the company's stock worth $397,000 after purchasing an additional 824 shares in the last quarter. Apollon Wealth Management LLC increased its stake in GE HealthCare Technologies by 46.5% during the 4th quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company's stock worth $1,025,000 after purchasing an additional 4,160 shares in the last quarter. Empowered Funds LLC increased its stake in GE HealthCare Technologies by 15.8% during the 4th quarter. Empowered Funds LLC now owns 27,183 shares of the company's stock worth $2,125,000 after purchasing an additional 3,713 shares in the last quarter. Finally, Savant Capital LLC increased its stake in GE HealthCare Technologies by 149.7% during the 4th quarter. Savant Capital LLC now owns 27,585 shares of the company's stock worth $2,157,000 after purchasing an additional 16,538 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Trading Down 1.2%

Shares of NASDAQ:GEHC traded down $0.86 during trading on Friday, reaching $72.25. 2,976,907 shares of the company traded hands, compared to its average volume of 3,457,315. The business's fifty day moving average is $68.67 and its 200-day moving average is $78.31. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The firm has a market capitalization of $33.08 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 3.19 and a beta of 1.13. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the company earned $0.90 earnings per share. The company's revenue was up 2.7% on a year-over-year basis. As a group, analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its board has initiated a share buyback plan on Wednesday, April 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.19%. The ex-dividend date was Friday, April 25th. GE HealthCare Technologies's dividend payout ratio is currently 2.95%.

Wall Street Analyst Weigh In

GEHC has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and reduced their price target for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the stock a "buy" rating in a research report on Monday, April 14th. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Finally, Citigroup cut their price objective on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Three 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 company. According to MarketBeat, GE HealthCare Technologies has an average rating of "Moderate Buy" and a consensus price target of $88.27.

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.