Wealth Enhancement Advisory Services LLC Increases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 23.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,859 shares of the company's stock after buying an additional 9,769 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in GE HealthCare Technologies were worth $4,105,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Capital Research Global Investors increased its holdings in GE HealthCare Technologies by 4.5% during the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock valued at $4,755,851,000 after buying an additional 2,608,066 shares during the last quarter. Vanguard Group Inc. increased its holdings in GE HealthCare Technologies by 4.3% during the fourth 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 last quarter. Geode Capital Management LLC increased its holdings in GE HealthCare Technologies by 3.1% during the fourth 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 last quarter. Invesco Ltd. increased its holdings in GE HealthCare Technologies by 18.4% during the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock valued at $630,751,000 after buying an additional 1,252,613 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of GE HealthCare Technologies in the fourth quarter worth $488,531,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of analyst reports. Piper Sandler reduced 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 note on Wednesday, April 23rd. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and reduced their price objective for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Wells Fargo & Company reduced their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Finally, BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the stock a "buy" rating in a research note on Monday, April 14th. 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $88.27.

GE HealthCare Technologies Stock Performance

GEHC opened at $74.86 on Friday. The stock has a market capitalization of $34.28 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 2.45 and a beta of 1.13. The company has a fifty day moving average of $70.36 and a 200 day moving average of $77.70. 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 debt-to-equity ratio of 0.73, a quick ratio of 0.76 and a current ratio of 0.98.

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

GE HealthCare Technologies declared that its board has authorized a stock buyback plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

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.

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