Delta Financial Group Inc. Decreases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Delta Financial Group Inc. lowered its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 53.6% in the first quarter, Holdings Channel reports. The firm owned 2,633 shares of the company’s stock after selling 3,037 shares during the period. Delta Financial Group Inc.’s holdings in GE HealthCare Technologies were worth $215,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GEHC. N.E.W. Advisory Services LLC purchased a new stake in shares of GE HealthCare Technologies during the 1st quarter worth about $25,000. Bogart Wealth LLC grew its holdings in shares of GE HealthCare Technologies by 260.0% during the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company’s stock worth $28,000 after purchasing an additional 247 shares during the period. Stonebridge Financial Group LLC grew its holdings in shares of GE HealthCare Technologies by 165.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares during the period. LGT Financial Advisors LLC grew its holdings in shares of GE HealthCare Technologies by 46.2% during 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 during the period. Finally, Accredited Wealth Management LLC purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

GEHC has been the topic of several recent research reports. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. Piper Sandler reduced their price target on 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. BTIG Research reissued a “buy” rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Wall Street Zen raised GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, May 31st. Finally, Morgan Stanley reduced their price target on GE HealthCare Technologies from $78.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $88.55.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $69.85 on Monday. The stock has a market cap of $31.89 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 2.67 and a beta of 1.13. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. The stock has a 50 day moving average of $73.59 and a 200-day moving average of $76.58. 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 earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.91 by $0.15. The company had revenue of $5 billion during the quarter, compared to analysts’ expectations of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 EPS. On average, analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, July 25th. GE HealthCare Technologies’s dividend payout ratio is 2.87%.

GE HealthCare Technologies declared that its board has approved a stock buyback plan on Wednesday, April 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

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.