Greenleaf Trust Purchases 796 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Greenleaf Trust increased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 10.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,364 shares of the company’s stock after acquiring an additional 796 shares during the period. Greenleaf Trust’s holdings in GE HealthCare Technologies were worth $675,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Capital Research Global Investors raised its position in shares of GE HealthCare Technologies by 4.5% in the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company’s stock worth $4,755,851,000 after buying an additional 2,608,066 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of GE HealthCare Technologies by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after acquiring an additional 2,155,429 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of GE HealthCare Technologies by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company’s stock valued at $882,777,000 after acquiring an additional 342,819 shares during the last quarter. Invesco Ltd. grew its holdings in shares of GE HealthCare Technologies by 18.4% during the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company’s stock worth $630,751,000 after purchasing an additional 1,252,613 shares in the last quarter. Finally, Norges Bank bought a new position in shares of GE HealthCare Technologies in the fourth quarter worth approximately $488,531,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wells Fargo & Company dropped their target price 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. Piper Sandler lowered their price objective on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Evercore ISI dropped 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 report on Thursday, May 1st. Morgan Stanley reduced their target price 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. Finally, UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lowered their price target for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.55.

GE HealthCare Technologies Stock Down 1.8%

Shares of NASDAQ GEHC opened at $75.13 on Friday. The company has a market cap of $34.40 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 2.58 and a beta of 1.14. 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’s fifty day moving average is $72.36 and its 200 day moving average is $77.36. 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 released its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the company posted $0.90 EPS. GE HealthCare Technologies’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies announced that its Board of Directors has authorized a stock buyback plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Friday, July 25th. GE HealthCare Technologies’s dividend payout ratio is 2.95%.

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.