Hobbs Group Advisors LLC Cuts Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Hobbs Group Advisors LLC trimmed its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,409 shares of the company’s stock after selling 152 shares during the period. Hobbs Group Advisors LLC’s holdings in GE HealthCare Technologies were worth $579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CoreFirst Bank & Trust purchased a new stake in GE HealthCare Technologies during the fourth quarter valued at $25,000. Continuum Advisory LLC increased its holdings in shares of GE HealthCare Technologies by 101.8% in the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock worth $31,000 after buying an additional 168 shares during the last quarter. Runnymede Capital Advisors Inc. purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at about $28,000. Bank of Jackson Hole Trust bought a new position in shares of GE HealthCare Technologies in the 4th quarter valued at about $32,000. Finally, Flagship Wealth Advisors LLC purchased a new position in GE HealthCare Technologies in the fourth quarter worth about $34,000. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $80.01 on Friday. 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 stock has a market cap of $36.59 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The firm has a 50-day moving average of $86.70 and a two-hundred day moving average of $85.86. GE HealthCare Technologies Inc. has a 1 year low of $74.51 and a 1 year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.19. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. On average, research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be issued a $0.035 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. GE HealthCare Technologies’s payout ratio is currently 3.23%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GEHC shares. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. Citigroup raised their price target on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company boosted their price objective on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, The Goldman Sachs Group upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $100.00 in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $98.75.

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.