IFP Advisors Inc Has $777,000 Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

IFP Advisors Inc increased its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 250.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,620 shares of the company's stock after buying an additional 6,877 shares during the period. IFP Advisors Inc's holdings in GE HealthCare Technologies were worth $777,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Susquehanna Fundamental Investments LLC bought a new stake in GE HealthCare Technologies during the fourth quarter valued at $20,891,000. Breakwater Capital Group acquired a new position in shares of GE HealthCare Technologies during the first quarter valued at $210,000. Flagship Harbor Advisors LLC lifted its holdings in GE HealthCare Technologies by 17.4% in the first quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company's stock worth $278,000 after purchasing an additional 511 shares during the period. Bessemer Group Inc. lifted its holdings in GE HealthCare Technologies by 24.3% in the first quarter. Bessemer Group Inc. now owns 6,671 shares of the company's stock worth $538,000 after purchasing an additional 1,306 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in GE HealthCare Technologies by 23.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company's stock worth $4,105,000 after purchasing an additional 9,769 shares during the period. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded up $0.95 during mid-day trading on Monday, hitting $78.56. The company's stock had a trading volume of 818,462 shares, compared to its average volume of 3,994,906. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80. 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 firm has a market capitalization of $35.97 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 2.62 and a beta of 1.14. The stock's 50-day moving average is $73.28 and its two-hundred day moving average is $76.97.

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. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. GE HealthCare Technologies's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. As a group, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

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

GE HealthCare Technologies declared that its Board of Directors has approved a share repurchase plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GEHC. Evercore ISI cut their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their target price for the company from $74.00 to $73.00 in a report on Monday, May 5th. Piper Sandler dropped their price objective 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. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Finally, The Goldman Sachs Group dropped their price objective on 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 research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.55.

About GE HealthCare Technologies

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.