Focus Partners Wealth Has $54.84 Million Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Focus Partners Wealth grew its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 30.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 699,496 shares of the company’s stock after acquiring an additional 163,438 shares during the period. Focus Partners Wealth’s holdings in GE HealthCare Technologies were worth $54,836,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Principal Financial Group Inc. increased its holdings in shares of GE HealthCare Technologies by 1.9% in the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after purchasing an additional 19,010 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of GE HealthCare Technologies by 29.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company’s stock valued at $209,624,000 after buying an additional 512,778 shares during the period. Nordea Investment Management AB raised its position in shares of GE HealthCare Technologies by 30.2% during the fourth quarter. Nordea Investment Management AB now owns 43,632 shares of the company’s stock worth $3,429,000 after acquiring an additional 10,116 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of GE HealthCare Technologies by 0.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 30,597 shares of the company’s stock valued at $2,392,000 after acquiring an additional 146 shares during the period. Finally, ST Germain D J Co. Inc. boosted its holdings in GE HealthCare Technologies by 21.8% in the fourth quarter. ST Germain D J Co. Inc. now owns 3,212 shares of the company’s stock valued at $251,000 after acquiring an additional 575 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

GEHC has been the subject of several recent research reports. The Goldman Sachs Group dropped their price objective 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. Evercore ISI dropped their price target on shares of 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. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the company a “buy” rating in a research note on Monday, April 14th. Wells Fargo & Company dropped their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Finally, Citigroup reduced their price target on GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.27.

GE HealthCare Technologies Stock Down 0.9 %

NASDAQ:GEHC opened at $69.87 on Friday. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year high of $94.80. The stock has a 50-day moving average price of $72.49 and a two-hundred day moving average price of $80.64. The stock has a market cap of $31.99 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 3.19 and a beta of 1.21. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data 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. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. GE HealthCare Technologies’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 EPS. As a group, equities analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies declared that its board has initiated a share buyback program on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.20%. GE HealthCare Technologies’s payout ratio is 2.95%.

GE HealthCare Technologies 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.