GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Purchased by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. grew its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 37.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,665 shares of the company's stock after purchasing an additional 10,046 shares during the period. Triasima Portfolio Management inc.'s holdings in GE HealthCare Technologies were worth $2,959,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in GE HealthCare Technologies by 30.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,094 shares of the company's stock worth $164,000 after acquiring an additional 484 shares during the period. Avantax Advisory Services Inc. grew its holdings in GE HealthCare Technologies by 19.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 11,621 shares of the company's stock worth $909,000 after acquiring an additional 1,871 shares during the period. Frank Rimerman Advisors LLC grew its holdings in GE HealthCare Technologies by 8.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,490 shares of the company's stock worth $273,000 after acquiring an additional 265 shares during the period. Choate Investment Advisors grew its holdings in GE HealthCare Technologies by 14.6% during the fourth quarter. Choate Investment Advisors now owns 3,714 shares of the company's stock worth $290,000 after acquiring an additional 472 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in GE HealthCare Technologies by 30.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 61,729 shares of the company's stock worth $4,826,000 after acquiring an additional 14,321 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC traded down $0.47 during midday trading on Friday, hitting $75.77. The company had a trading volume of 1,053,137 shares, compared to its average volume of 3,546,162. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76. The stock has a market cap of $34.70 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 2.54 and a beta of 1.14. The business's 50-day simple moving average is $72.85 and its 200-day simple moving average is $77.25.

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, beating analysts' consensus estimates 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 company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the business earned $0.90 earnings per share. The company's revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies announced that its Board of Directors has authorized a share buyback plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be paid a $0.035 dividend. The ex-dividend date is Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. GE HealthCare Technologies's payout ratio is presently 2.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GEHC shares. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. The Goldman Sachs Group lowered their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. 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 report on Thursday, May 1st. Citigroup increased their price target on GE HealthCare Technologies from $86.00 to $89.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company lowered their price target on 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. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GE HealthCare Technologies has an average rating of "Moderate Buy" and an average target price of $88.55.

GE HealthCare Technologies 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.