Stratos Wealth Partners LTD. Has $360,000 Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Stratos Wealth Partners LTD. lessened its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 12.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,457 shares of the company’s stock after selling 619 shares during the period. Stratos Wealth Partners LTD.’s holdings in GE HealthCare Technologies were worth $360,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. CoreFirst Bank & Trust purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at $25,000. Runnymede Capital Advisors Inc. purchased a new position in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC increased its holdings in GE HealthCare Technologies by 165.7% during the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company’s stock valued at $29,000 after buying an additional 222 shares during the last quarter. LGT Financial Advisors LLC boosted its position in shares of GE HealthCare Technologies by 46.2% in the fourth 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 bought a new position in shares of GE HealthCare Technologies in the fourth quarter worth approximately $30,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Down 0.1%

Shares of NASDAQ:GEHC opened at $74.39 on Wednesday. The firm has a fifty day moving average of $72.61 and a two-hundred day moving average of $77.27. The firm has a market capitalization of $34.06 billion, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 2.51 and a beta of 1.14. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The company has a quick ratio of 0.76, a current ratio of 0.98 and a debt-to-equity ratio of 0.73.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. GE HealthCare Technologies’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. On average, equities analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 30th that allows the company to buyback $1.00 billion in outstanding 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 board 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. Stockholders of record on Friday, July 25th will be issued 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 dividend yield of 0.19%. GE HealthCare Technologies’s payout ratio is 2.95%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GEHC. Evercore ISI cut their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and cut their price target for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Morgan Stanley decreased their price objective on GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Citigroup lifted their price objective on GE HealthCare Technologies from $86.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.55.

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.