Maven Securities LTD Cuts Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Maven Securities LTD lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 80.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,000 shares of the company’s stock after selling 60,024 shares during the quarter. Maven Securities LTD’s holdings in GE HealthCare Technologies were worth $1,173,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. CoreFirst Bank & Trust acquired a new position in shares of GE HealthCare Technologies during the 4th quarter valued at $25,000. Runnymede Capital Advisors Inc. bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth about $28,000. LGT Financial Advisors LLC grew its position in shares of 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 acquiring an additional 123 shares in the last quarter. Accredited Wealth Management LLC acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $30,000. Finally, Bank of Jackson Hole Trust bought a new position in GE HealthCare Technologies in the fourth quarter worth about $32,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Trading Up 6.1%

Shares of NASDAQ GEHC opened at $74.11 on Tuesday. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The company has a 50-day moving average of $72.28 and a two-hundred day moving average of $80.48. The company has a market cap of $33.93 billion, a PE ratio of 17.12, a P/E/G ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. As a group, equities analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s payout ratio is presently 2.95%.

GE HealthCare Technologies announced that its Board of Directors has approved a share repurchase plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Evercore ISI lowered 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. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the company a “buy” rating in a research note on Monday, April 14th. The Goldman Sachs Group decreased their target price on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. 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 report on Thursday, May 1st. Finally, Morgan Stanley lowered their price objective on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Three equities research 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.