Avity Investment Management Inc. Has $31 Million Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Avity Investment Management Inc. raised its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 384,025 shares of the company’s stock after acquiring an additional 4,947 shares during the quarter. GE HealthCare Technologies comprises approximately 2.5% of Avity Investment Management Inc.’s holdings, making the stock its 20th largest position. Avity Investment Management Inc. owned about 0.08% of GE HealthCare Technologies worth $30,995,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Generali Investments Management Co LLC raised its position in shares of GE HealthCare Technologies by 141.4% in the first quarter. Generali Investments Management Co LLC now owns 11,352 shares of the company’s stock valued at $916,000 after purchasing an additional 6,649 shares during the period. Signal Advisors Wealth LLC raised its position in shares of GE HealthCare Technologies by 2.7% in the first quarter. Signal Advisors Wealth LLC now owns 14,137 shares of the company’s stock valued at $1,141,000 after purchasing an additional 373 shares during the period. Breakwater Capital Group bought a new position in shares of GE HealthCare Technologies in the first quarter valued at approximately $210,000. Beacon Financial Group raised its position in shares of GE HealthCare Technologies by 12.5% in the first quarter. Beacon Financial Group now owns 6,614 shares of the company’s stock valued at $534,000 after purchasing an additional 735 shares during the period. Finally, Firethorn Wealth Partners LLC bought a new position in GE HealthCare Technologies during the first quarter worth $209,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GEHC. Citigroup dropped their target price on shares of 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. BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the stock a “buy” rating in a research report on Monday, April 14th. Wells Fargo & Company decreased their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Piper Sandler decreased 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. Finally, The Goldman Sachs Group decreased 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. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.27.

GE HealthCare Technologies Stock Up 0.6%

Shares of NASDAQ:GEHC opened at $71.55 on Friday. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The company’s fifty day moving average is $68.17 and its 200-day moving average is $78.77. The company has a market capitalization of $32.76 billion, a PE ratio of 16.52, a P/E/G ratio of 3.19 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results 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. The business had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.14 annualized dividend and a yield of 0.20%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 2.95%.

GE HealthCare Technologies declared that its Board of Directors has initiated a stock buyback program on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes 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 leadership believes its shares are undervalued.

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.