OneDigital Investment Advisors LLC Purchases 9,328 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

OneDigital Investment Advisors LLC lifted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 32.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,409 shares of the company's stock after purchasing an additional 9,328 shares during the quarter. OneDigital Investment Advisors LLC's holdings in GE HealthCare Technologies were worth $3,100,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GEHC. CoreFirst Bank & Trust purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $25,000. Runnymede Capital Advisors Inc. bought a new stake in GE HealthCare Technologies during the 4th quarter valued at about $28,000. Stonebridge Financial Group LLC raised its holdings in shares of GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares in the last quarter. LGT Financial Advisors LLC raised its stake in shares of GE HealthCare Technologies by 46.2% during the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after acquiring an additional 123 shares in the last quarter. Finally, Accredited Wealth Management LLC purchased a new position in shares of GE HealthCare Technologies in the fourth quarter worth about $30,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Citigroup decreased their target price on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company decreased their target price on 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. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price target for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Finally, Morgan Stanley dropped their target price on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.27.

GE HealthCare Technologies Price Performance

GEHC traded up $0.22 during midday trading on Wednesday, hitting $75.42. The company had a trading volume of 1,498,472 shares, compared to its average volume of 3,523,886. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The firm's 50-day simple moving average is $71.99 and its 200-day simple moving average is $77.42. 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 company has a market capitalization of $34.53 billion, a PE ratio of 15.88, a P/E/G ratio of 2.51 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. The company had revenue of $4.78 billion for the quarter, compared to analysts' expectations of $4.66 billion. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 EPS. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Friday, July 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.95%.

GE HealthCare Technologies announced that its Board of Directors has initiated a stock 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 repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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.