Stonegate Investment Group LLC Has $78.35 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Stonegate Investment Group LLC increased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 0.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 970,727 shares of the company's stock after purchasing an additional 8,363 shares during the period. GE HealthCare Technologies makes up approximately 2.1% of Stonegate Investment Group LLC's holdings, making the stock its 15th largest position. Stonegate Investment Group LLC owned 0.21% of GE HealthCare Technologies worth $78,347,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. CoreFirst Bank & Trust acquired a new position in shares of GE HealthCare Technologies during the fourth quarter worth approximately $25,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter worth $28,000. LGT Financial Advisors LLC increased its position in GE HealthCare Technologies by 46.2% during the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after acquiring an additional 123 shares during the period. Accredited Wealth Management LLC acquired a new position in GE HealthCare Technologies during the 4th quarter valued at $30,000. Finally, Ameriflex Group Inc. acquired a new position in GE HealthCare Technologies during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

GEHC has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley reduced their target price on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Evercore ISI lowered 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. Citigroup cut their price target on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $88.27.

GE HealthCare Technologies Stock Down 0.8%

NASDAQ GEHC opened at $71.28 on Friday. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a market capitalization of $32.64 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 2.42 and a beta of 1.13. The stock's 50 day moving average is $69.57 and its two-hundred day moving average is $77.96. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its 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 return on equity of 24.95% and a net margin of 11.02%. The business had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the company earned $0.90 EPS. GE HealthCare Technologies's revenue was up 2.7% on a year-over-year basis. Equities analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Friday, April 25th. 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 permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign 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.

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