Flagship Harbor Advisors LLC Increases Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Flagship Harbor Advisors LLC boosted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 17.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,443 shares of the company’s stock after acquiring an additional 511 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in GE HealthCare Technologies were worth $278,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in GEHC. CoreFirst Bank & Trust purchased a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at $25,000. Runnymede Capital Advisors Inc. purchased a new stake in GE HealthCare Technologies during the fourth quarter valued at about $28,000. LGT Financial Advisors LLC boosted its position in GE HealthCare Technologies by 46.2% during the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock valued at $30,000 after buying an additional 123 shares during the period. Accredited Wealth Management LLC bought a new position in shares of GE HealthCare Technologies during the fourth quarter valued at about $30,000. Finally, Ameriflex Group Inc. purchased a new position in shares of GE HealthCare Technologies in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Up 2.9%

Shares of GEHC opened at $74.86 on Friday. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. The firm’s 50-day moving average price is $70.36 and its 200-day moving average price is $77.70. The firm has a market capitalization of $34.28 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 2.45 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last posted 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. 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 for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the firm posted $0.90 EPS. The business’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its board has initiated a share repurchase program on Wednesday, April 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GEHC shares. 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. Citigroup dropped their price objective on GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Evercore ISI cut their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Wall Street Zen upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. Finally, BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the stock a “buy” rating in a report on Monday, April 14th. Three research 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. According to data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $88.27.

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.