Tectonic Advisors LLC lessened its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) by 5.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 7,900 shares of the company’s stock after selling 429 shares during the period. Tectonic Advisors LLC’s holdings in GE HealthCare Technologies were worth $638,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in GEHC. CoreFirst Bank & Trust acquired a new position in GE HealthCare Technologies in the 4th quarter valued at approximately $25,000. Bogart Wealth LLC raised its holdings in GE HealthCare Technologies by 260.0% in the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company’s stock valued at $28,000 after acquiring an additional 247 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new position in GE HealthCare Technologies in the 4th quarter valued at approximately $28,000. Stonebridge Financial Group LLC raised its holdings in GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company’s stock valued at $29,000 after acquiring an additional 222 shares in the last quarter. Finally, LGT Financial Advisors LLC raised 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 valued at $30,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.
GE HealthCare Technologies Price Performance
GEHC stock opened at $74.39 on Wednesday. The stock has a 50-day moving average price of $72.61 and a two-hundred day moving average price of $77.27. The stock has a market cap of $34.06 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 2.51 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 1 year low of $57.65 and a 1 year high of $94.80.
GE HealthCare Technologies announced that its board has authorized a share repurchase plan on Wednesday, April 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
GE HealthCare Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $0.14 annualized dividend and a yield of 0.19%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 2.95%.
Analyst Ratings Changes
Several research firms have commented on GEHC. The Goldman Sachs Group cut their price target 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. Wall Street Zen upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, May 31st. Piper Sandler lowered their price objective on GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley decreased their price target on GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company decreased their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $88.55.
Check Out Our Latest Analysis on GE HealthCare Technologies
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.
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