GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by XML Financial LLC

XML Financial LLC cut its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,119 shares of the company’s stock after selling 181 shares during the quarter. XML Financial LLC’s holdings in GE HealthCare Technologies were worth $252,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of GEHC. D.A. Davidson & CO. increased its stake in GE HealthCare Technologies by 89.7% in the fourth quarter. D.A. Davidson & CO. now owns 8,959 shares of the company’s stock valued at $700,000 after purchasing an additional 4,237 shares during the period. Wealthspire Advisors LLC increased its stake in GE HealthCare Technologies by 13.8% in the fourth quarter. Wealthspire Advisors LLC now owns 5,912 shares of the company’s stock valued at $462,000 after purchasing an additional 715 shares during the period. MONECO Advisors LLC acquired a new position in GE HealthCare Technologies during the fourth quarter worth about $245,000. Union Bancaire Privee UBP SA acquired a new position in GE HealthCare Technologies during the fourth quarter worth about $280,000. Finally, IFP Advisors Inc grew its position in shares of GE HealthCare Technologies by 15.1% in the fourth quarter. IFP Advisors Inc now owns 2,743 shares of the company’s stock valued at $215,000 after purchasing an additional 360 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GEHC has been the topic of several research reports. BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the company a “buy” rating in a research report on Monday, April 14th. Piper Sandler cut their price target on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. 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 research note on Thursday, May 1st. Citigroup cut their price target on shares of 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. Finally, Wall Street Zen raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, May 31st. Three 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’s stock. According to data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $88.27.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $71.98 on Wednesday. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The firm has a fifty day moving average of $69.88 and a 200-day moving average of $77.79. The firm has a market capitalization of $32.96 billion, a P/E ratio of 15.15, a PEG ratio of 2.40 and a beta of 1.13. 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 (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors 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 of this dividend was Friday, April 25th. GE HealthCare Technologies’s payout ratio is 2.95%.

GE HealthCare Technologies announced that its board has authorized a share 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s management 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.