Cresset Asset Management LLC Sells 20,390 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cresset Asset Management LLC trimmed its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 74.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,124 shares of the company’s stock after selling 20,390 shares during the period. Cresset Asset Management LLC’s holdings in GE HealthCare Technologies were worth $557,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CoreFirst Bank & Trust bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth approximately $25,000. Runnymede Capital Advisors Inc. bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth approximately $28,000. LGT Financial Advisors LLC boosted its position in shares of GE HealthCare Technologies by 46.2% in the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock worth $30,000 after purchasing an additional 123 shares in the last quarter. Accredited Wealth Management LLC bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth approximately $30,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth approximately $32,000. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Trading Down 1.3%

NASDAQ:GEHC opened at $72.84 on Thursday. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year 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 firm has a market capitalization of $33.35 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. The business has a fifty day moving average price of $71.77 and a 200-day moving average price of $80.39.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the business posted $0.90 EPS. GE HealthCare Technologies’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its Board of Directors has approved a share buyback plan on Wednesday, April 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 2.95%.

Analysts Set New Price Targets

GEHC has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Evercore ISI dropped their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group lowered their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Citigroup lowered their price objective on GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Finally, Morgan Stanley decreased their target price on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Three 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.27.

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.