HBK Sorce Advisory LLC Has $582,000 Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

HBK Sorce Advisory LLC boosted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 13.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 7,217 shares of the company’s stock after acquiring an additional 838 shares during the period. HBK Sorce Advisory LLC’s holdings in GE HealthCare Technologies were worth $582,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. CoreFirst Bank & Trust bought a new position in shares of GE HealthCare Technologies during the fourth quarter worth approximately $25,000. Runnymede Capital Advisors Inc. acquired a new stake in GE HealthCare Technologies during the fourth quarter worth approximately $28,000. LGT Financial Advisors LLC increased its stake in GE HealthCare Technologies by 46.2% during the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock worth $30,000 after acquiring an additional 123 shares during the period. Accredited Wealth Management LLC acquired a new position in GE HealthCare Technologies in the 4th quarter valued at $30,000. Finally, Ameriflex Group Inc. bought a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at $31,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Up 2.9%

Shares of GE HealthCare Technologies stock opened at $74.86 on Friday. The firm has a market capitalization of $34.28 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 2.45 and a beta of 1.13. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. The firm’s 50 day moving average is $70.36 and its 200 day moving average is $77.70. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $4.66 billion. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies announced that its Board of Directors has authorized a share repurchase program on Wednesday, April 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $74.00 to $73.00 in a report on Monday, May 5th. Evercore ISI decreased their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Piper Sandler dropped their target price on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, May 31st. Finally, BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the company a “buy” rating in a research report on Monday, April 14th. Three equities research 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 company’s stock. According to data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $88.27.

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.