Retirement Planning Co of New England Inc. Grows Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Retirement Planning Co of New England Inc. grew its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 58.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,043 shares of the company’s stock after buying an additional 2,240 shares during the period. Retirement Planning Co of New England Inc.’s holdings in GE HealthCare Technologies were worth $488,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at $20,891,000. Breakwater Capital Group purchased a new stake in shares of GE HealthCare Technologies in the first quarter valued at $210,000. Flagship Harbor Advisors LLC grew its position in GE HealthCare Technologies by 17.4% during the first quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company’s stock valued at $278,000 after acquiring an additional 511 shares during the period. Bessemer Group Inc. grew its position in GE HealthCare Technologies by 24.3% during the first quarter. Bessemer Group Inc. now owns 6,671 shares of the company’s stock valued at $538,000 after acquiring an additional 1,306 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in GE HealthCare Technologies by 23.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company’s stock valued at $4,105,000 after acquiring an additional 9,769 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GEHC. Piper Sandler lowered their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Evercore ISI lowered their price target on 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. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lowered their price target for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Wall Street Zen upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, May 31st. Finally, Citigroup boosted their price objective on GE HealthCare Technologies from $86.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $88.55.

GE HealthCare Technologies Stock Up 1.0%

Shares of GE HealthCare Technologies stock opened at $76.24 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.98 and a debt-to-equity ratio of 0.73. The firm has a market cap of $34.91 billion, a P/E ratio of 16.05, a P/E/G ratio of 2.54 and a beta of 1.14. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The business has a 50-day moving average price of $72.85 and a 200 day moving average price of $77.25.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating the consensus estimate 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 24.95% and a net margin of 11.02%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 earnings per share. On average, sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies declared that its Board of Directors has initiated a share repurchase program on Wednesday, April 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date is Friday, July 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 2.95%.

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.