Man Group plc Trims Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Man Group plc lowered its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 69.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,891 shares of the company’s stock after selling 369,072 shares during the period. Man Group plc’s holdings in GE HealthCare Technologies were worth $12,422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GEHC. JPMorgan Chase & Co. grew its stake in GE HealthCare Technologies by 29.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company’s stock worth $209,624,000 after buying an additional 512,778 shares in the last quarter. Park Avenue Securities LLC grew its stake in GE HealthCare Technologies by 9.7% in the 4th quarter. Park Avenue Securities LLC now owns 4,450 shares of the company’s stock worth $348,000 after buying an additional 392 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in GE HealthCare Technologies by 26.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,304 shares of the company’s stock worth $102,000 after buying an additional 269 shares in the last quarter. Certified Advisory Corp grew its stake in GE HealthCare Technologies by 16.8% in the 4th quarter. Certified Advisory Corp now owns 5,421 shares of the company’s stock worth $424,000 after buying an additional 779 shares in the last quarter. Finally, Avanza Fonder AB purchased a new position in GE HealthCare Technologies in the 4th quarter worth approximately $2,303,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Up 0.3%

NASDAQ:GEHC opened at $73.13 on Friday. The company has a fifty day moving average of $71.27 and a 200 day moving average of $80.16. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $33.49 billion, a P/E ratio of 16.89, a P/E/G ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the business posted $0.90 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

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

GE HealthCare Technologies Dividend Announcement

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. 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 is currently 2.95%.

Analyst Ratings Changes

A number of equities analysts have commented on GEHC shares. 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 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. Citigroup cut their price objective on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company cut their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Finally, Piper Sandler cut their price objective on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.