Ellevest Inc. Acquires 270 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Ellevest Inc. grew its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,515 shares of the company’s stock after buying an additional 270 shares during the period. Ellevest Inc.’s holdings in GE HealthCare Technologies were worth $275,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cherry Creek Investment Advisors Inc. increased its holdings in GE HealthCare Technologies by 0.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock worth $2,920,000 after purchasing an additional 114 shares in the last quarter. Independence Bank of Kentucky raised its holdings in shares of GE HealthCare Technologies by 6.0% in the fourth quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock valued at $158,000 after purchasing an additional 114 shares during the last quarter. Haverford Trust Co lifted its position in shares of GE HealthCare Technologies by 2.4% during the 4th 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. Tandem Capital Management Corp ADV boosted its position in GE HealthCare Technologies by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock worth $2,205,000 after purchasing an additional 118 shares during the last quarter. Finally, Arcus Capital Partners LLC boosted its holdings in shares of GE HealthCare Technologies by 3.0% in the 4th quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock worth $322,000 after buying an additional 119 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on GEHC shares. Morgan Stanley reduced their price objective on GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Piper Sandler reduced their price objective on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group decreased their target price on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the company a “buy” rating in a research report on Monday, April 14th. Finally, UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $74.00 to $73.00 in a report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.27.

GE HealthCare Technologies Price Performance

Shares of GEHC stock opened at $69.87 on Friday. The business’s fifty day moving average is $72.49 and its 200 day moving average is $80.64. The stock has a market cap of $31.99 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 3.19 and a beta of 1.21. 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 Inc. has a twelve month low of $57.65 and a twelve month high of $94.80.

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 analysts’ consensus estimates of $0.91 by $0.10. The company 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 firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.90 EPS. Research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.20%. GE HealthCare Technologies’s payout ratio is currently 2.95%.

GE HealthCare Technologies declared that its Board of Directors has authorized a share buyback plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.