Bragg Financial Advisors Inc Cuts Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Bragg Financial Advisors Inc lowered its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,570 shares of the company’s stock after selling 265 shares during the period. Bragg Financial Advisors Inc’s holdings in GE HealthCare Technologies were worth $201,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Sagespring Wealth Partners LLC acquired a new stake in GE HealthCare Technologies in the 4th quarter valued at $213,000. Ceeto Capital Group LLC purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at about $137,000. Sterling Capital Management LLC lifted its position in GE HealthCare Technologies by 19.7% during the 4th quarter. Sterling Capital Management LLC now owns 70,855 shares of the company’s stock worth $5,539,000 after acquiring an additional 11,642 shares in the last quarter. Tandem Wealth Advisors LLC boosted its holdings in GE HealthCare Technologies by 9.3% in the 4th quarter. Tandem Wealth Advisors LLC now owns 4,584 shares of the company’s stock worth $358,000 after acquiring an additional 389 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in GE HealthCare Technologies by 3.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 249,998 shares of the company’s stock valued at $19,545,000 after acquiring an additional 8,685 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. Citigroup upped their price objective on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. The Goldman Sachs Group raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $100.00 in a research report on Tuesday, March 11th. Finally, Wells Fargo & Company raised their price objective on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.73.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $64.39 on Tuesday. The stock has a market capitalization of $29.45 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. The business’s fifty day moving average price is $81.29 and its 200 day moving average price is $83.80. 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 Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.26 by $0.19. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 dividend yield of 0.22%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s payout ratio is 3.23%.

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.