National Bank of Canada FI Cuts Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

National Bank of Canada FI reduced its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 13.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 385,686 shares of the company’s stock after selling 57,562 shares during the quarter. National Bank of Canada FI’s holdings in GE HealthCare Technologies were worth $31,124,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. LGT Financial Advisors LLC boosted its holdings in GE HealthCare Technologies by 46.2% during the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock valued at $30,000 after acquiring an additional 123 shares during the period. Integrated Wealth Concepts LLC raised its position in GE HealthCare Technologies by 0.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 17,173 shares of the company’s stock valued at $1,343,000 after purchasing an additional 126 shares during the last quarter. Graypoint LLC raised its position in GE HealthCare Technologies by 5.7% during the 1st quarter. Graypoint LLC now owns 3,028 shares of the company’s stock valued at $244,000 after purchasing an additional 162 shares during the last quarter. Ferguson Wellman Capital Management Inc. raised its position in GE HealthCare Technologies by 3.2% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 5,336 shares of the company’s stock valued at $431,000 after purchasing an additional 166 shares during the last quarter. Finally, Spire Wealth Management raised its position in GE HealthCare Technologies by 5.2% during the 1st quarter. Spire Wealth Management now owns 3,367 shares of the company’s stock valued at $272,000 after purchasing an additional 166 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Up 1.3%

Shares of NASDAQ:GEHC opened at $72.00 on Friday. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16. The firm has a market capitalization of $32.87 billion, a P/E ratio of 14.75, a P/E/G ratio of 2.75 and a beta of 1.13. The stock has a 50 day moving average price of $73.62 and a 200-day moving average price of $76.12.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.15. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%. The company had revenue of $5 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same quarter last year, the company earned $1.00 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies declared that its board has authorized a share buyback plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership 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. Investors of record on Friday, July 25th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, July 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 2.87%.

Analyst Upgrades and Downgrades

GEHC has been the subject of a number of recent analyst reports. 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. The Goldman Sachs Group lowered their price target 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. Morgan Stanley lowered their price target on GE HealthCare Technologies from $78.00 to $74.00 and set an “equal weight” rating for the company in a research report on Thursday, July 31st. 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.55.

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.