Optas LLC Sells 220 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Optas LLC lowered its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.5% during the first quarter, Holdings Channel.com reports. The fund owned 2,717 shares of the company’s stock after selling 220 shares during the period. Optas LLC’s holdings in GE HealthCare Technologies were worth $219,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GEHC. Susquehanna Fundamental Investments LLC acquired a new position in shares of GE HealthCare Technologies during the 4th quarter worth approximately $20,891,000. Asset Management One Co. Ltd. grew its stake in shares of GE HealthCare Technologies by 5.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 174,412 shares of the company’s stock valued at $13,867,000 after buying an additional 9,662 shares in the last quarter. Dark Forest Capital Management LP increased its holdings in GE HealthCare Technologies by 154.4% during the fourth quarter. Dark Forest Capital Management LP now owns 7,343 shares of the company’s stock worth $574,000 after buying an additional 4,457 shares during the last quarter. Breakwater Capital Group bought a new stake in GE HealthCare Technologies during the first quarter worth $210,000. Finally, Allworth Financial LP lifted its stake in GE HealthCare Technologies by 1,369.3% in the fourth quarter. Allworth Financial LP now owns 81,634 shares of the company’s stock valued at $6,382,000 after acquiring an additional 76,078 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group cut their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Wall Street Zen raised GE HealthCare Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. Piper Sandler dropped their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Finally, Evercore ISI reduced their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Three equities 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.27.

GE HealthCare Technologies Stock Down 1.2%

GEHC stock opened at $72.25 on Monday. 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 current ratio of 1.04 and a quick ratio of 0.83. The stock has a market capitalization of $33.08 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 3.19 and a beta of 1.13. The business’s fifty day moving average price is $68.67 and its two-hundred day moving average price is $78.28.

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 analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. GE HealthCare Technologies’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.90 earnings per share. On average, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

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 $0.035 dividend. The ex-dividend date was Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.19%. GE HealthCare Technologies’s payout ratio is 2.95%.

GE HealthCare Technologies declared that its board has approved a share buyback program on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors 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.