Total Wealth Planning & Management Inc. Invests $427,000 in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Total Wealth Planning & Management Inc. bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 5,295 shares of the company’s stock, valued at approximately $427,000.

Other hedge funds have also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust acquired a new stake in GE HealthCare Technologies in the fourth quarter valued at approximately $25,000. Runnymede Capital Advisors Inc. acquired a new stake in GE HealthCare Technologies in the 4th quarter valued at $28,000. LGT Financial Advisors LLC increased its holdings in GE HealthCare Technologies by 46.2% in 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 in the last quarter. Accredited Wealth Management LLC purchased a new stake in GE HealthCare Technologies in the 4th quarter worth $30,000. Finally, Ameriflex Group Inc. acquired a new position in GE HealthCare Technologies during the fourth quarter worth $31,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Up 2.9%

NASDAQ GEHC opened at $74.86 on Friday. The business’s fifty day simple moving average is $70.36 and its 200-day simple moving average is $77.70. The company has a quick ratio of 0.76, a current ratio of 0.98 and a debt-to-equity ratio of 0.73. The firm has a market cap of $34.28 billion, a PE ratio of 15.76, a P/E/G ratio of 2.45 and a beta of 1.13. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The company 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 11.02% and a return on equity of 24.95%. 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 earnings per share. As a group, equities analysts anticipate 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 authorized a stock repurchase program on Wednesday, April 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Piper Sandler cut 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 note on Wednesday, April 23rd. BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the stock a “buy” rating in a research note on Monday, April 14th. Citigroup reduced 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. Wall Street Zen raised GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, May 31st. Finally, Morgan Stanley reduced their price objective on GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.27.

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.