Mutual Advisors LLC Raises Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Mutual Advisors LLC boosted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 114.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,390 shares of the company's stock after buying an additional 3,406 shares during the period. Mutual Advisors LLC's holdings in GE HealthCare Technologies were worth $516,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. St. James Investment Company LLC boosted its stake in shares of GE HealthCare Technologies by 2.3% in the 1st quarter. St. James Investment Company LLC now owns 214,457 shares of the company's stock valued at $17,309,000 after purchasing an additional 4,723 shares in the last quarter. Resonant Capital Advisors LLC acquired a new stake in shares of GE HealthCare Technologies in the 1st quarter valued at approximately $221,000. Teacher Retirement System of Texas boosted its stake in shares of GE HealthCare Technologies by 156.4% in the 1st quarter. Teacher Retirement System of Texas now owns 287,720 shares of the company's stock valued at $23,222,000 after purchasing an additional 175,517 shares in the last quarter. Keybank National Association OH boosted its stake in shares of GE HealthCare Technologies by 5.9% in the 1st quarter. Keybank National Association OH now owns 1,011,339 shares of the company's stock valued at $81,625,000 after purchasing an additional 56,433 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its holdings in shares of GE HealthCare Technologies by 13.5% during the first quarter. Summit Trail Advisors LLC now owns 6,734 shares of the company's stock worth $544,000 after purchasing an additional 800 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock traded down $1.37 during midday trading on Friday, reaching $75.13. The stock had a trading volume of 1,896,474 shares, compared to its average volume of 3,527,446. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The firm's 50-day moving average price is $72.27 and its 200 day moving average price is $77.39. The firm has a market capitalization of $34.40 billion, a PE ratio of 15.82, a P/E/G ratio of 2.54 and a beta of 1.14. The company has a quick ratio of 0.76, a current ratio of 0.98 and a debt-to-equity ratio of 0.73.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced 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 24.95% and a net margin of 11.02%. The firm had revenue of $4.78 billion for the quarter, compared to analysts' expectations of $4.66 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The company's revenue was up 2.7% on a year-over-year basis. As a group, research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies announced that its Board of Directors has authorized a stock buyback plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be 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 of this dividend is Friday, July 25th. GE HealthCare Technologies's dividend payout ratio is presently 2.95%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GEHC shares. Citigroup lifted their target price on shares of GE HealthCare Technologies from $86.00 to $89.00 and gave the stock a "buy" rating in a research report on Wednesday. Evercore ISI cut their target price on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company dropped their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group cut 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 report on Thursday, May 1st. Finally, Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. 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 stock. According to MarketBeat.com, the stock has an average 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.