GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. trimmed its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,352 shares of the company’s stock after selling 1,892 shares during the quarter. GE HealthCare Technologies makes up 1.6% of Beech Hill Advisors Inc.’s portfolio, making the stock its 21st biggest holding. Beech Hill Advisors Inc.’s holdings in GE HealthCare Technologies were worth $4,064,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GEHC. CoreFirst Bank & Trust acquired a new stake in GE HealthCare Technologies during the 4th quarter valued at $25,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $28,000. LGT Financial Advisors LLC grew its holdings in GE HealthCare Technologies by 46.2% in the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock valued at $30,000 after buying an additional 123 shares during the period. Accredited Wealth Management LLC acquired a new position in GE HealthCare Technologies during the fourth quarter worth approximately $30,000. Finally, Ameriflex Group Inc. purchased a new position in shares of GE HealthCare Technologies in the 4th quarter worth $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler cut 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 research note on Wednesday, April 23rd. UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. 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. Wells Fargo & Company dropped their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Finally, BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the company a “buy” rating in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.27.

GE HealthCare Technologies Trading Up 1.1%

Shares of NASDAQ:GEHC opened at $72.75 on Thursday. The stock has a market capitalization of $33.31 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 2.43 and a beta of 1.13. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a 50 day moving average price of $70.11 and a 200 day moving average price of $77.75. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.76 and a current ratio of 0.98.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data 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 return on equity of 24.95% and a net margin of 11.02%. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the company earned $0.90 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies announced that its board 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 buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.