Creative Financial Designs Inc. ADV Decreases Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Creative Financial Designs Inc. ADV lessened its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 67.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 411 shares of the company’s stock after selling 847 shares during the period. Creative Financial Designs Inc. ADV’s holdings in GE HealthCare Technologies were worth $33,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GEHC. Susquehanna Fundamental Investments LLC purchased a new stake in GE HealthCare Technologies during the fourth quarter valued at about $20,891,000. Breakwater Capital Group bought a new stake in shares of GE HealthCare Technologies in the first quarter valued at approximately $210,000. Flagship Harbor Advisors LLC lifted its stake in shares of GE HealthCare Technologies by 17.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company’s stock valued at $278,000 after buying an additional 511 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in GE HealthCare Technologies by 23.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company’s stock worth $4,105,000 after buying an additional 9,769 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in GE HealthCare Technologies by 52.7% in the 1st quarter. Farther Finance Advisors LLC now owns 4,493 shares of the company’s stock valued at $357,000 after buying an additional 1,550 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

GEHC has been the topic of several recent research reports. The Goldman Sachs Group dropped their target price on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Citigroup dropped their price objective on GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the stock a “buy” rating in a research note on Monday, April 14th. Morgan Stanley decreased their price target on GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Finally, Wall Street Zen raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. Three 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 stock. Based on data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus price target of $88.27.

GE HealthCare Technologies Trading Down 0.4%

Shares of GEHC opened at $74.07 on Tuesday. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a market capitalization of $33.92 billion, a P/E ratio of 15.59, a P/E/G ratio of 2.51 and a beta of 1.14. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76. The firm’s 50 day simple moving average is $70.87 and its 200 day simple moving average is $77.54.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 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 firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies declared that its Board of Directors has approved a stock repurchase plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

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.