Sound Shore Management Inc. CT Purchases 5,856 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sound Shore Management Inc. CT grew its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 781,197 shares of the company's stock after purchasing an additional 5,856 shares during the period. GE HealthCare Technologies makes up 2.2% of Sound Shore Management Inc. CT's portfolio, making the stock its 28th biggest holding. Sound Shore Management Inc. CT owned 0.17% of GE HealthCare Technologies worth $63,050,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Journey Strategic Wealth LLC boosted its position in shares of GE HealthCare Technologies by 6.3% during the 1st quarter. Journey Strategic Wealth LLC now owns 10,439 shares of the company's stock valued at $843,000 after purchasing an additional 621 shares in the last quarter. Machina Capital S.A.S. boosted its holdings in shares of GE HealthCare Technologies by 190.4% in the first quarter. Machina Capital S.A.S. now owns 28,419 shares of the company's stock worth $2,294,000 after buying an additional 18,632 shares during the period. Pinnacle Associates Ltd. boosted its holdings in shares of GE HealthCare Technologies by 7.9% in the first quarter. Pinnacle Associates Ltd. now owns 23,374 shares of the company's stock worth $1,887,000 after buying an additional 1,715 shares during the period. AE Wealth Management LLC boosted its holdings in shares of GE HealthCare Technologies by 5.7% in the first quarter. AE Wealth Management LLC now owns 16,760 shares of the company's stock worth $1,353,000 after buying an additional 908 shares during the period. Finally, Oak Thistle LLC acquired a new position in shares of GE HealthCare Technologies in the first quarter worth about $1,728,000. Institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

GEHC has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. The Goldman Sachs Group decreased their target price on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Piper Sandler decreased their target price on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded 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 assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $88.55.

GE HealthCare Technologies Stock Up 1.1%

Shares of GEHC stock traded up $0.84 during trading on Friday, hitting $77.61. 3,132,661 shares of the company were exchanged, compared to its average volume of 3,279,447. 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 firm has a market capitalization of $35.54 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 2.59 and a beta of 1.14. The business's 50-day simple moving average is $73.28 and its 200 day simple moving average is $77.09. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The company's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, analysts forecast 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 will be paid on Friday, August 15th. Investors 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 yield of 0.18%. The ex-dividend date is Friday, July 25th. GE HealthCare Technologies's payout ratio is presently 2.95%.

GE HealthCare Technologies declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board 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.