Bar Harbor Wealth Management Decreases Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Bar Harbor Wealth Management trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,069 shares of the company’s stock after selling 715 shares during the quarter. Bar Harbor Wealth Management’s holdings in GE HealthCare Technologies were worth $2,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of GE HealthCare Technologies during the fourth quarter valued at about $488,531,000. Capital Research Global Investors grew its position in GE HealthCare Technologies by 4.5% during the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company’s stock worth $4,755,851,000 after purchasing an additional 2,608,066 shares during the last quarter. Van ECK Associates Corp increased its stake in GE HealthCare Technologies by 107.3% during the 4th quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock valued at $378,520,000 after purchasing an additional 2,506,417 shares in the last quarter. Vanguard Group Inc. increased its stake in GE HealthCare Technologies by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after purchasing an additional 2,155,429 shares in the last quarter. Finally, Eminence Capital LP purchased a new position in shares of GE HealthCare Technologies in the fourth quarter worth $102,574,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the company a “buy” rating in a report on Monday, April 14th. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. Morgan Stanley dropped 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 note on Tuesday, May 6th. Evercore ISI cut their price objective on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Finally, Citigroup decreased their target price on GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.27.

GE HealthCare Technologies Stock Down 0.4%

Shares of GEHC opened at $73.11 on Friday. The company has a market capitalization of $33.48 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 3.19 and a beta of 1.14. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The stock’s 50-day moving average price is $68.40 and its 200-day moving average price is $78.41. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. On average, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

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. This represents a $0.14 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date was Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 2.95%.

GE HealthCare Technologies declared that its board has authorized a share repurchase plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board 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.