HighPoint Advisor Group LLC Sells 4,547 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

HighPoint Advisor Group LLC reduced its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 12.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,593 shares of the company's stock after selling 4,547 shares during the period. HighPoint Advisor Group LLC's holdings in GE HealthCare Technologies were worth $2,631,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. CoreFirst Bank & Trust acquired a new stake in GE HealthCare Technologies in the fourth quarter worth approximately $25,000. Bogart Wealth LLC increased its holdings in shares of GE HealthCare Technologies by 260.0% in the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after purchasing an additional 247 shares during the period. Stonebridge Financial Group LLC increased its position in GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 222 shares during the last quarter. LGT Financial Advisors LLC raised its holdings in GE HealthCare Technologies by 46.2% during the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after buying an additional 123 shares in the last quarter. Finally, Accredited Wealth Management LLC bought a new stake in GE HealthCare Technologies during the fourth quarter valued at about $30,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on GEHC. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. Wells Fargo & Company cut their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Evercore ISI decreased their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Piper Sandler lowered their price target on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Three 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's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $88.55.

GE HealthCare Technologies Trading Up 3.1%

Shares of NASDAQ:GEHC traded up $2.33 during midday trading on Tuesday, hitting $76.49. 4,641,580 shares of the stock were exchanged, compared to its average volume of 3,571,181. The stock has a market capitalization of $35.02 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 2.50 and a beta of 1.14. The business's 50-day moving average price is $72.98 and its 200 day moving average price is $77.22. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.76 and a current ratio of 0.98. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data 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 net margin of 11.02% and a return on equity of 24.95%. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the business posted $0.90 EPS. GE HealthCare Technologies's revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies declared that its Board of Directors has initiated a stock repurchase program on Wednesday, April 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.18%. The ex-dividend date is Friday, July 25th. GE HealthCare Technologies's payout ratio is 2.95%.

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.