Flagship Harbor Advisors LLC Raises Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Flagship Harbor Advisors LLC increased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 17.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,443 shares of the company’s stock after acquiring an additional 511 shares during the period. Flagship Harbor Advisors LLC’s holdings in GE HealthCare Technologies were worth $278,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of GE HealthCare Technologies in the first quarter worth $1,067,000. Childress Capital Advisors LLC bought a new position in GE HealthCare Technologies in the 1st quarter worth about $224,000. Hillcrest Wealth Advisors NY LLC purchased a new stake in GE HealthCare Technologies during the 1st quarter valued at about $220,000. Stonegate Investment Group LLC increased its stake in GE HealthCare Technologies by 0.9% during the 1st quarter. Stonegate Investment Group LLC now owns 970,727 shares of the company’s stock valued at $78,347,000 after purchasing an additional 8,363 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in GE HealthCare Technologies by 42.6% in the first quarter. Blue Trust Inc. now owns 2,107 shares of the company’s stock worth $170,000 after buying an additional 629 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Up 2.9%

GEHC stock opened at $74.86 on Friday. The business’s 50-day moving average is $70.36 and its two-hundred day moving average is $77.70. The company has a market cap of $34.28 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 2.45 and a beta of 1.13. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.76 and a current ratio of 0.98.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm posted $0.90 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

GEHC has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their price target on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Morgan Stanley cut their target price 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. Evercore ISI decreased their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Piper Sandler lowered their price target 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. Finally, Citigroup reduced their price objective on GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.27.

GE HealthCare Technologies Company Profile

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.