Blue Trust Inc. Grows Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Blue Trust Inc. raised its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 42.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,107 shares of the company’s stock after purchasing an additional 629 shares during the period. Blue Trust Inc.’s holdings in GE HealthCare Technologies were worth $170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. CoreFirst Bank & Trust acquired a new position in GE HealthCare Technologies in the fourth quarter valued at approximately $25,000. Runnymede Capital Advisors Inc. acquired a new position in GE HealthCare Technologies during the 4th quarter worth about $28,000. LGT Financial Advisors LLC increased its holdings in GE HealthCare Technologies by 46.2% during the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock worth $30,000 after purchasing an additional 123 shares during the period. Accredited Wealth Management LLC purchased a new stake in GE HealthCare Technologies during the 4th quarter worth about $30,000. Finally, Ameriflex Group Inc. purchased a new position in shares of GE HealthCare Technologies in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GEHC. The Goldman Sachs Group reduced their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, May 1st. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and reduced their target price for the company from $74.00 to $73.00 in a report on Monday, May 5th. Wall Street Zen upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, May 31st. Piper Sandler lowered their price objective on GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, Evercore ISI reduced their price objective on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $88.27.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $71.98 on Wednesday. The company’s fifty day moving average is $69.88 and its two-hundred day moving average is $77.79. The company has a quick ratio of 0.76, a current ratio of 0.98 and a debt-to-equity ratio of 0.73. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The company has a market cap of $32.96 billion, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 2.40 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the business earned $0.90 EPS. The company’s revenue was up 2.7% on a year-over-year basis. Equities analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were paid a $0.035 dividend. The ex-dividend date was Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.19%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 2.95%.

GE HealthCare Technologies announced that its Board of Directors has initiated a stock buyback plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are 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.