Maven Securities LTD Sells 60,024 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Maven Securities LTD trimmed its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 80.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,000 shares of the company's stock after selling 60,024 shares during the period. Maven Securities LTD's holdings in GE HealthCare Technologies were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GEHC. CoreFirst Bank & Trust bought a new position in GE HealthCare Technologies during the fourth quarter valued at about $25,000. Runnymede Capital Advisors Inc. bought a new position in GE HealthCare Technologies during the fourth quarter valued at about $28,000. LGT Financial Advisors LLC raised its holdings in GE HealthCare Technologies by 46.2% during the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after buying an additional 123 shares in the last quarter. Accredited Wealth Management LLC bought a new position in GE HealthCare Technologies during the fourth quarter valued at about $30,000. Finally, Bank of Jackson Hole Trust bought a new position in GE HealthCare Technologies during the fourth quarter valued at about $32,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

GEHC stock traded up $0.22 during trading on Friday, reaching $73.13. 3,308,976 shares of the stock were exchanged, compared to its average volume of 3,418,814. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The company has a market capitalization of $33.49 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. The stock has a 50 day simple moving average of $71.27 and a 200-day simple moving average of $80.16. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The business had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the business earned $0.90 earnings per share. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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

GE HealthCare Technologies announced that its board has authorized a share repurchase plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding 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 management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Piper Sandler cut their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Citigroup dropped their price objective on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the stock a "buy" rating in a research note on Monday, April 14th. Wells Fargo & Company dropped their price objective on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Finally, Morgan Stanley dropped their price objective on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Three 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's stock. According to data from MarketBeat.com, the stock has an average 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.