Allworth Financial LP Sells 3,312 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Allworth Financial LP reduced its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,322 shares of the company’s stock after selling 3,312 shares during the quarter. Allworth Financial LP’s holdings in GE HealthCare Technologies were worth $6,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEHC. CoreFirst Bank & Trust bought a new position in shares of GE HealthCare Technologies during the fourth quarter worth $25,000. Runnymede Capital Advisors Inc. bought a new position in shares of GE HealthCare Technologies during the fourth quarter worth $28,000. Stonebridge Financial Group LLC boosted its position in shares of GE HealthCare Technologies by 165.7% during the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares during the last quarter. LGT Financial Advisors LLC boosted its position in shares of GE HealthCare Technologies by 46.2% during the fourth 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 last quarter. Finally, Accredited Wealth Management LLC bought a new position in shares of GE HealthCare Technologies during the fourth quarter worth $30,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of research reports. The Goldman Sachs Group dropped their target price on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Evercore ISI lowered their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company lowered their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. 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. Finally, UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.55.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $76.50 on Friday. The firm has a 50-day moving average price of $72.27 and a 200-day moving average price of $77.39. The firm has a market capitalization of $35.03 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 2.54 and a beta of 1.14. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last released its 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 firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned $0.90 EPS. As a group, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be issued a $0.035 dividend. The ex-dividend date is Friday, July 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.18%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 2.95%.

GE HealthCare Technologies declared that its board has approved a stock buyback program on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is 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.