Harbor Capital Advisors Inc. Trims Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Harbor Capital Advisors Inc. decreased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 24.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,590 shares of the company’s stock after selling 2,189 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in GE HealthCare Technologies were worth $532,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CoreFirst Bank & Trust acquired a new position in GE HealthCare Technologies during the fourth quarter worth approximately $25,000. Runnymede Capital Advisors Inc. acquired a new position in shares of GE HealthCare Technologies in the 4th quarter valued at $28,000. LGT Financial Advisors LLC raised its position 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 purchasing an additional 123 shares during the last quarter. Accredited Wealth Management LLC acquired a new stake in GE HealthCare Technologies during the 4th quarter worth $30,000. Finally, Ameriflex Group Inc. purchased a new position in GE HealthCare Technologies during the 4th quarter worth $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GEHC. Morgan Stanley dropped 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. Evercore ISI dropped their target price on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Piper Sandler decreased their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group lowered their price objective on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, Citigroup cut their price objective on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.27.

GE HealthCare Technologies Stock Down 1.2%

Shares of NASDAQ GEHC opened at $72.25 on Friday. The stock has a market capitalization of $33.08 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The firm has a 50-day moving average price of $68.67 and a 200 day moving average price of $78.31. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. The firm 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 25.74% and a net margin of 10.13%. GE HealthCare Technologies’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.14 annualized dividend and a yield of 0.19%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 2.95%.

GE HealthCare Technologies announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are 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.