Farther Finance Advisors LLC Boosts Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Farther Finance Advisors LLC lifted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 52.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,493 shares of the company’s stock after purchasing an additional 1,550 shares during the period. Farther Finance Advisors LLC’s holdings in GE HealthCare Technologies were worth $357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in GEHC. Haverford Trust Co lifted its stake in shares of GE HealthCare Technologies by 2.4% in the fourth quarter. Haverford Trust Co now owns 4,896 shares of the company’s stock worth $383,000 after buying an additional 115 shares in the last quarter. Intact Investment Management Inc. grew its stake in GE HealthCare Technologies by 15.4% during the 4th quarter. Intact Investment Management Inc. now owns 900 shares of the company’s stock valued at $70,000 after acquiring an additional 120 shares in the last quarter. 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 during the last quarter. Integrated Wealth Concepts LLC raised its holdings in GE HealthCare Technologies by 0.7% in the 4th quarter. Integrated Wealth Concepts LLC now owns 17,173 shares of the company’s stock valued at $1,343,000 after acquiring an additional 126 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in GE HealthCare Technologies by 1.9% in the 4th quarter. Parallel Advisors LLC now owns 7,135 shares of the company’s stock worth $558,000 after purchasing an additional 135 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have 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 for the company in a research report on Tuesday, May 6th. Piper Sandler dropped their target price 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. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and cut their target price for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Wall Street Zen raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, May 31st. Finally, BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the company a “buy” rating in a report on Monday, April 14th. Three 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. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average target price of $88.27.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $72.86 on Tuesday. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The company has a 50 day moving average price of $68.95 and a 200 day moving average price of $78.21. The stock has a market capitalization of $33.36 billion, a P/E ratio of 16.83, a PEG ratio of 3.19 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $0.90 earnings per share. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its Board of Directors 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 buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were given a dividend of $0.035 per share. The ex-dividend date was Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.19%. GE HealthCare Technologies’s dividend payout ratio is presently 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.