GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by Captrust Financial Advisors

Captrust Financial Advisors increased its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,214 shares of the company’s stock after buying an additional 2,861 shares during the quarter. Captrust Financial Advisors’ holdings in GE HealthCare Technologies were worth $2,831,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Cary Street Partners Financial LLC acquired a new stake in GE HealthCare Technologies in the fourth quarter valued at approximately $542,000. Banque Transatlantique SA purchased a new position in shares of GE HealthCare Technologies in the fourth quarter valued at $64,000. Bayesian Capital Management LP acquired a new stake in GE HealthCare Technologies during the 4th quarter valued at $761,000. Benjamin Edwards Inc. increased its stake in GE HealthCare Technologies by 19.5% during the 4th quarter. Benjamin Edwards Inc. now owns 4,632 shares of the company’s stock worth $362,000 after buying an additional 757 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in GE HealthCare Technologies in the 4th quarter worth $76,093,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $69.87 on Monday. The stock has a market capitalization of $31.99 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. The business’s fifty day moving average price is $72.49 and its 200 day moving average price is $80.58. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last posted 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 net margin of 10.13% and a return on equity of 25.74%. The company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the firm posted $0.90 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be paid a $0.035 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.20%. GE HealthCare Technologies’s payout ratio is currently 2.95%.

GE HealthCare Technologies announced that its Board of Directors has authorized a stock buyback program on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GEHC. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lowered their target price for the company from $74.00 to $73.00 in a research note on Monday, May 5th. The Goldman Sachs Group lowered their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Piper Sandler cut their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley decreased their price target on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Finally, Citigroup cut their price target on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average target price 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.