NorthRock Partners LLC Buys 3,498 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

NorthRock Partners LLC lifted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 127.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,253 shares of the company's stock after buying an additional 3,498 shares during the period. NorthRock Partners LLC's holdings in GE HealthCare Technologies were worth $489,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. CoreFirst Bank & Trust acquired a new position in GE HealthCare Technologies during the fourth quarter worth about $25,000. Runnymede Capital Advisors Inc. bought a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at approximately $28,000. LGT Financial Advisors LLC grew its holdings in shares of GE HealthCare Technologies by 46.2% during the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after purchasing an additional 123 shares during the last quarter. Accredited Wealth Management LLC acquired a new position in GE HealthCare Technologies during the 4th quarter worth approximately $30,000. Finally, Bank of Jackson Hole Trust bought a new position in GE HealthCare Technologies in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GEHC. The Goldman Sachs Group decreased their target price on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. UBS Group raised 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 report on Monday, May 5th. Piper Sandler dropped their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley lowered their price objective on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Finally, Citigroup cut their target price on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, GE HealthCare Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

GE HealthCare Technologies Trading Down 0.9%

Shares of GEHC traded down $0.62 during trading hours on Thursday, hitting $68.96. 869,385 shares of the stock were exchanged, compared to its average volume of 3,421,303. The firm has a market capitalization of $31.57 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The business has a 50-day moving average of $70.62 and a 200-day moving average of $79.89.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly 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 firm had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the business posted $0.90 EPS. The business's revenue was up 2.7% compared to the same quarter last year. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were paid a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.20%. The ex-dividend date was Friday, April 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.95%.

GE HealthCare Technologies announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership 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.