GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Skylands Capital LLC

Skylands Capital LLC decreased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 22.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,165 shares of the company's stock after selling 34,625 shares during the quarter. GE HealthCare Technologies accounts for approximately 1.4% of Skylands Capital LLC's portfolio, making the stock its 19th largest holding. Skylands Capital LLC's holdings in GE HealthCare Technologies were worth $9,860,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEHC. Capital Research Global Investors lifted its holdings in GE HealthCare Technologies by 4.5% in the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock valued at $4,755,851,000 after purchasing an additional 2,608,066 shares in the last quarter. Vanguard Group Inc. raised its holdings in GE HealthCare Technologies by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock valued at $4,107,378,000 after buying an additional 2,155,429 shares during the period. Geode Capital Management LLC raised its holdings in GE HealthCare Technologies by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company's stock valued at $882,777,000 after buying an additional 342,819 shares during the period. Invesco Ltd. boosted its stake in GE HealthCare Technologies by 18.4% during the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock worth $630,751,000 after buying an additional 1,252,613 shares during the period. Finally, Norges Bank purchased a new position in GE HealthCare Technologies during the fourth quarter worth about $488,531,000. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Stock Up 2.5%

NASDAQ GEHC traded up $1.87 on Tuesday, hitting $75.94. 1,679,678 shares of the stock were exchanged, compared to its average volume of 3,505,262. 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 Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The company has a market cap of $34.77 billion, a PE ratio of 15.99, a PEG ratio of 2.51 and a beta of 1.14. The company has a 50-day moving average price of $70.87 and a 200-day moving average price of $77.54.

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 the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The company had revenue of $4.78 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same quarter in the previous year, the business posted $0.90 EPS. The firm's revenue was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

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

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.18%. GE HealthCare Technologies's payout ratio is 2.95%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GEHC. Piper Sandler reduced their price target on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Citigroup reduced their price target 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. Evercore ISI reduced their price target on shares of 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. Morgan Stanley reduced their price target on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Finally, UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and reduced their price target for the company from $74.00 to $73.00 in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $88.27.

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.