GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by LMR Partners LLP

LMR Partners LLP cut its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 42.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,283 shares of the company's stock after selling 33,428 shares during the quarter. LMR Partners LLP's holdings in GE HealthCare Technologies were worth $3,540,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors boosted its position in GE HealthCare Technologies by 4.5% during 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 acquiring an additional 2,608,066 shares in the last quarter. Vanguard Group Inc. grew its stake in GE HealthCare Technologies by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock valued at $4,107,378,000 after purchasing an additional 2,155,429 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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. boosted its holdings in shares of GE HealthCare Technologies by 18.4% in the 4th 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 in the last quarter. Finally, Norges Bank purchased a new position in shares of GE HealthCare Technologies in the 4th quarter worth approximately $488,531,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded up $0.22 during trading hours on Friday, hitting $73.13. The stock had a trading volume of 3,308,976 shares, compared to its average volume of 3,403,318. The firm has a 50-day moving average price of $71.52 and a 200 day moving average price of $80.30. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The firm has a market capitalization of $33.49 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 3.19 and a beta of 1.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04.

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 (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the company posted $0.90 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies announced that its board has approved a share repurchase program on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.19%. The ex-dividend date was Friday, April 25th. GE HealthCare Technologies's payout ratio is 2.95%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GEHC shares. Wells Fargo & Company lowered 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 research note on Thursday, May 1st. BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the stock a "buy" rating in a research note on Monday, April 14th. Citigroup decreased their price target on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Piper Sandler cut their price objective on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their target price for the stock 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, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.27.

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.