Mn Services Vermogensbeheer B.V. Sells 11,600 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Mn Services Vermogensbeheer B.V. reduced its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,200 shares of the company's stock after selling 11,600 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in GE HealthCare Technologies were worth $11,961,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC acquired a new stake in GE HealthCare Technologies in the fourth quarter valued at about $20,891,000. Asset Management One Co. Ltd. boosted 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 valued at $13,867,000 after purchasing an additional 9,662 shares in the last quarter. Dark Forest Capital Management LP increased its position in GE HealthCare Technologies by 154.4% during the 4th quarter. Dark Forest Capital Management LP now owns 7,343 shares of the company's stock worth $574,000 after purchasing an additional 4,457 shares in the last quarter. Breakwater Capital Group bought a new position in GE HealthCare Technologies in the 1st quarter valued at approximately $210,000. Finally, Allworth Financial LP lifted its stake in GE HealthCare Technologies by 1,369.3% in the 4th quarter. Allworth Financial LP now owns 81,634 shares of the company's stock valued at $6,382,000 after purchasing an additional 76,078 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Trading Up 0.8%

GEHC stock traded up $0.61 during mid-day trading on Monday, reaching $72.86. The company's stock had a trading volume of 3,046,878 shares, compared to its average volume of 3,455,671. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The business's 50 day moving average price is $68.67 and its 200 day moving average price is $78.28. The company has a market cap of $33.36 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly 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 net margin of 10.13% and a return on equity of 25.74%. GE HealthCare Technologies's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 EPS. On average, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.19%. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.95%.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $74.00 to $73.00 in a report on Monday, May 5th. Piper Sandler dropped their price objective 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. Morgan Stanley reduced their target price on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Evercore ISI dropped 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 research note on Thursday, May 1st. Finally, Citigroup reduced 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 note on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

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.