8,366 Shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC) Acquired by Retirement Planning Group LLC NY

Retirement Planning Group LLC NY purchased a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,366 shares of the company's stock, valued at approximately $654,000. GE HealthCare Technologies accounts for approximately 0.7% of Retirement Planning Group LLC NY's portfolio, making the stock its 28th largest holding.

Several other large investors have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $20,891,000. Cathy Pareto & Associates Inc. acquired a new position in shares of GE HealthCare Technologies during the fourth quarter valued at $670,000. Apollon Wealth Management LLC lifted its stake in shares of GE HealthCare Technologies by 46.5% during the fourth quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company's stock valued at $1,025,000 after acquiring an additional 4,160 shares during the period. Argus Investors Counsel Inc. acquired a new position in shares of GE HealthCare Technologies during the fourth quarter valued at $224,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of GE HealthCare Technologies by 29.8% during the third quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company's stock valued at $209,624,000 after acquiring an additional 512,778 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GEHC shares. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their price target for the company from $74.00 to $73.00 in a research note on Monday, May 5th. Evercore ISI cut their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the company a "buy" rating in a research note on Monday, April 14th. Citigroup cut their target price on 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. Finally, Piper Sandler dropped their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.27.

GE HealthCare Technologies Stock Up 2.7%

GEHC stock traded up $1.85 during mid-day trading on Tuesday, reaching $71.01. The company had a trading volume of 3,183,788 shares, compared to its average volume of 3,444,809. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The stock has a 50 day simple moving average of $69.83 and a two-hundred day simple moving average of $79.41. The company has a market capitalization of $32.51 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 3.19 and a beta of 1.21. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly 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. The firm had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.66 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The business's revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. As a group, equities analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were issued a $0.035 dividend. The ex-dividend date was Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.20%. GE HealthCare Technologies's dividend payout ratio is currently 2.95%.

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

GE HealthCare Technologies Company Profile

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.