Salem Investment Counselors Inc. Grows Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Salem Investment Counselors Inc. grew its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 6.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 116,525 shares of the company's stock after acquiring an additional 7,317 shares during the period. Salem Investment Counselors Inc.'s holdings in GE HealthCare Technologies were worth $9,405,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in GEHC. CoreFirst Bank & Trust acquired a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at $25,000. Runnymede Capital Advisors Inc. purchased a new position in shares of GE HealthCare Technologies in the 4th quarter valued at $28,000. LGT Financial Advisors LLC raised its stake in 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. Accredited Wealth Management LLC purchased a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at about $30,000. Finally, Ameriflex Group Inc. purchased a new position in GE HealthCare Technologies during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Price Performance

Shares of GEHC stock traded up $0.61 during midday trading on Monday, reaching $72.86. 3,046,770 shares of the company traded hands, compared to its average volume of 4,060,298. The firm's 50 day simple moving average is $68.67 and its two-hundred day simple moving average is $78.28. 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 firm has a market cap of $33.36 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the firm earned $0.90 EPS. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

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

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GEHC. Citigroup lowered their price target on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the company a "buy" rating in a report on Monday, April 14th. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Piper Sandler cut 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 research report on Wednesday, April 23rd. 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 investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.