Nisa Investment Advisors LLC Reduces Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Nisa Investment Advisors LLC lowered its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 75,087 shares of the company’s stock after selling 824 shares during the period. Nisa Investment Advisors LLC’s holdings in GE HealthCare Technologies were worth $6,060,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. CoreFirst Bank & Trust purchased a new stake in GE HealthCare Technologies in the fourth quarter valued at approximately $25,000. Runnymede Capital Advisors Inc. purchased a new stake in GE HealthCare Technologies in the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC boosted its position in GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares in the last quarter. LGT Financial Advisors LLC boosted its position in 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. Finally, Accredited Wealth Management LLC purchased a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Down 1.8%

Shares of NASDAQ:GEHC opened at $75.13 on Friday. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year high of $94.80. The firm has a market capitalization of $34.40 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 2.58 and a beta of 1.14. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76. The business’s 50 day moving average price is $72.36 and its 200-day moving average price is $77.36.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the company earned $0.90 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

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

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend is Friday, July 25th. GE HealthCare Technologies’s dividend payout ratio is currently 2.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GEHC shares. Piper Sandler lowered their price objective 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. Citigroup upped their price objective on GE HealthCare Technologies from $86.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday. Wall Street Zen upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, May 31st. BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the stock a “buy” rating in a research report on Monday, April 14th. Finally, Evercore ISI decreased their target price 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. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.55.

GE HealthCare Technologies 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.