GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by PDT Partners LLC

PDT Partners LLC cut its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 33.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,056 shares of the company's stock after selling 14,308 shares during the quarter. PDT Partners LLC's holdings in GE HealthCare Technologies were worth $2,272,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cherry Creek Investment Advisors Inc. boosted its stake in shares of GE HealthCare Technologies by 0.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company's stock worth $2,920,000 after acquiring an additional 114 shares during the last quarter. Independence Bank of Kentucky boosted its stake in GE HealthCare Technologies by 6.0% during the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company's stock worth $158,000 after purchasing an additional 114 shares during the last quarter. Haverford Trust Co grew its holdings in shares of GE HealthCare Technologies by 2.4% during the fourth quarter. Haverford Trust Co now owns 4,896 shares of the company's stock worth $383,000 after buying an additional 115 shares in the last quarter. Tandem Capital Management Corp ADV raised its position in shares of GE HealthCare Technologies by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company's stock valued at $2,205,000 after buying an additional 118 shares during the last quarter. Finally, Arcus Capital Partners LLC lifted its stake in shares of GE HealthCare Technologies by 3.0% in the fourth quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company's stock worth $322,000 after buying an additional 119 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Trading Up 4.2 %

GEHC stock traded up $2.86 during mid-day trading on Friday, hitting $70.53. 7,209,441 shares of the company were exchanged, compared to its average volume of 3,293,698. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The firm has a market capitalization of $32.29 billion, a P/E ratio of 16.29, a PEG ratio of 3.19 and a beta of 1.14. The business has a fifty day simple moving average of $74.34 and a 200-day simple moving average of $81.43. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings data 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. The firm 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 10.13% and a return on equity of 25.74%. During the same quarter last year, the company posted $0.90 EPS. The firm's quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.20%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies's payout ratio is 3.23%.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on GEHC shares. Evercore ISI cut their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday. The Goldman Sachs Group reduced their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research report on Thursday. Citigroup dropped their target price on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday. BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the stock a "buy" rating in a report on Monday, April 14th. Finally, Wells Fargo & Company dropped 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 report on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $89.40.

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.