Focus Partners Wealth Raises Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Focus Partners Wealth boosted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 30.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 699,496 shares of the company's stock after buying an additional 163,438 shares during the period. Focus Partners Wealth owned approximately 0.15% of GE HealthCare Technologies worth $54,836,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new position in GE HealthCare Technologies during the 4th quarter valued at about $20,891,000. Cathy Pareto & Associates Inc. purchased a new position in GE HealthCare Technologies in the fourth quarter valued at approximately $670,000. Principal Financial Group Inc. raised its holdings in GE HealthCare Technologies by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company's stock valued at $94,780,000 after acquiring an additional 19,010 shares during the period. Apollon Wealth Management LLC raised its holdings in GE HealthCare Technologies by 46.5% during the 4th quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company's stock valued at $1,025,000 after acquiring an additional 4,160 shares during the period. Finally, Sanibel Captiva Trust Company Inc. raised its holdings in GE HealthCare Technologies by 139.9% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 7,484 shares of the company's stock valued at $585,000 after acquiring an additional 4,364 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

GEHC has been the topic of several research analyst reports. Evercore ISI decreased their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the company a "buy" rating in a research report on Monday, April 14th. Morgan Stanley cut their price target on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $74.00 to $73.00 in a report on Monday, May 5th. Finally, Citigroup decreased their price target on shares of 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. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and an average price target of $88.27.

GE HealthCare Technologies Stock Down 1.3%

Shares of GEHC traded down $0.99 on Wednesday, hitting $72.84. 3,847,827 shares of the stock traded hands, compared to its average volume of 3,397,725. The company has a market capitalization of $33.35 billion, a PE ratio of 16.82, a P/E/G 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. The business has a 50 day simple moving average of $72.05 and a 200 day simple moving average of $80.44. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80.

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 analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The firm's revenue was up 2.7% on a year-over-year basis. As a group, 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 announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.95%.

GE HealthCare Technologies declared that its Board of Directors has authorized a stock buyback program on Wednesday, April 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its stock is 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.