Larson Financial Group LLC Grows Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Larson Financial Group LLC boosted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 117.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,275 shares of the company's stock after acquiring an additional 4,468 shares during the period. Larson Financial Group LLC's holdings in GE HealthCare Technologies were worth $668,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in GE HealthCare Technologies during the 4th quarter valued at about $488,531,000. Capital Research Global Investors lifted its position in GE HealthCare Technologies by 4.5% in the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock valued at $4,755,851,000 after acquiring an additional 2,608,066 shares in the last quarter. Vanguard Group Inc. boosted its stake in GE HealthCare Technologies by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock valued at $4,107,378,000 after purchasing an additional 2,155,429 shares during the last quarter. Eminence Capital LP bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth $102,574,000. Finally, Invesco Ltd. raised its stake in shares of GE HealthCare Technologies by 18.4% in the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock worth $630,751,000 after purchasing an additional 1,252,613 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock traded down $0.28 during mid-day trading on Friday, reaching $75.96. 3,303,819 shares of the company's stock traded hands, compared to its average volume of 3,555,058. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The firm has a 50 day moving average price of $72.85 and a two-hundred day moving average price of $77.25. 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 $34.78 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 2.54 and a beta of 1.14.

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

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

GE HealthCare Technologies Announces Dividend

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 dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Friday, July 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is 2.95%.

Analysts Set New Price Targets

Several equities research analysts recently commented on GEHC shares. BTIG Research reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday. Morgan Stanley reduced their price target on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. 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. The Goldman Sachs Group lowered their price objective on shares of 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. Finally, UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their price target for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.