CoreCap Advisors LLC Sells 588 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

CoreCap Advisors LLC lessened its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 32.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,232 shares of the company’s stock after selling 588 shares during the period. CoreCap Advisors LLC’s holdings in GE HealthCare Technologies were worth $96,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cherry Creek Investment Advisors Inc. raised its stake in shares of GE HealthCare Technologies by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock valued at $2,920,000 after acquiring an additional 114 shares in the last quarter. Independence Bank of Kentucky raised its stake in shares of GE HealthCare Technologies by 6.0% during the fourth quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock valued at $158,000 after acquiring an additional 114 shares in the last quarter. Haverford Trust Co raised its stake in shares of GE HealthCare Technologies by 2.4% during the fourth quarter. Haverford Trust Co now owns 4,896 shares of the company’s stock valued at $383,000 after acquiring an additional 115 shares in the last quarter. Tandem Capital Management Corp ADV raised its stake in shares of GE HealthCare Technologies by 0.4% during the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock valued at $2,205,000 after acquiring an additional 118 shares in the last quarter. Finally, Arcus Capital Partners LLC raised its stake in shares of GE HealthCare Technologies by 3.0% during the fourth quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock valued at $322,000 after acquiring an additional 119 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

NASDAQ GEHC opened at $73.83 on Wednesday. The firm’s fifty day simple moving average is $72.05 and its two-hundred day simple moving average is $80.44. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The firm has a market capitalization of $33.81 billion, a P/E ratio of 17.05, a P/E/G ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results 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 net margin of 10.13% and a return on equity of 25.74%. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies announced that its board has approved a stock buyback program on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GEHC shares. Evercore ISI decreased their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company cut their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group cut their price objective on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and cut their price objective for the company from $74.00 to $73.00 in a report on Monday, May 5th. Finally, Citigroup cut their price objective on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. 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 currently has a consensus rating of “Moderate Buy” and a consensus target price 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.