Golden State Wealth Management LLC Increases Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Golden State Wealth Management LLC raised its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 134.2% in the first quarter, Holdings Channel reports. The institutional investor owned 4,380 shares of the company’s stock after buying an additional 2,510 shares during the quarter. Golden State Wealth Management LLC’s holdings in GE HealthCare Technologies were worth $354,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GEHC. CoreFirst Bank & Trust bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth $25,000. Runnymede Capital Advisors Inc. bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth $28,000. LGT Financial Advisors LLC increased its holdings in shares of 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 purchasing an additional 123 shares in the last quarter. Accredited Wealth Management LLC bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth $30,000. Finally, Ameriflex Group Inc. bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $74.38 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.76 and a current ratio of 0.98. The stock has a 50-day simple moving average of $70.60 and a two-hundred day simple moving average of $77.65. The firm has a market capitalization of $34.06 billion, a PE ratio of 15.66, a P/E/G ratio of 2.52 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 announced its quarterly earnings data 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 24.95% and a net margin of 11.02%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. Analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its board has authorized a share buyback program on Wednesday, April 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GEHC. Evercore ISI reduced their target price on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the stock a “buy” rating in a report on Monday, April 14th. Wall Street Zen raised GE HealthCare Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. The Goldman Sachs Group cut their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $74.00 to $73.00 in a report on Monday, May 5th. Three research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.