Axa S.A. Decreases Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Axa S.A. reduced its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 36.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 33,370 shares of the company’s stock after selling 18,943 shares during the quarter. Axa S.A.’s holdings in GE HealthCare Technologies were worth $2,609,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust bought a new position in shares of GE HealthCare Technologies during the 4th quarter valued at approximately $25,000. Runnymede Capital Advisors Inc. bought a new position in GE HealthCare Technologies during the fourth quarter valued at $28,000. LGT Financial Advisors LLC increased its position in GE HealthCare Technologies by 46.2% in the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock worth $30,000 after buying an additional 123 shares during the last quarter. Accredited Wealth Management LLC bought a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at $30,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of GE HealthCare Technologies during the 4th quarter valued at $32,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Up 2.5 %

Shares of GEHC opened at $70.53 on Friday. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a market capitalization of $32.30 billion, a P/E ratio of 16.29, a P/E/G ratio of 3.19 and a beta of 1.21. 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’s 50 day simple moving average is $72.78 and its 200 day simple moving average is $80.84.

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

GE HealthCare Technologies announced that its Board of Directors has initiated 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 reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 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 0.20%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies’s payout ratio is currently 2.95%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Evercore ISI lowered their price objective on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group dropped their price target on shares of 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 stock a “buy” rating in a report on Monday, April 14th. Piper Sandler lowered their target price on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Finally, UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and cut their price target for the stock from $74.00 to $73.00 in a report on Monday. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.27.

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.