HBK Sorce Advisory LLC Sells 593 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

HBK Sorce Advisory LLC reduced its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,461 shares of the company’s stock after selling 593 shares during the quarter. HBK Sorce Advisory LLC’s holdings in GE HealthCare Technologies were worth $422,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in GE HealthCare Technologies by 14.7% in the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after purchasing an additional 5,693,244 shares during the period. Invesco Ltd. lifted its position in GE HealthCare Technologies by 21.4% in the third quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock worth $343,484,000 after purchasing an additional 889,297 shares during the period. Bank of New York Mellon Corp lifted its position in GE HealthCare Technologies by 7.8% in the third quarter. Bank of New York Mellon Corp now owns 4,380,408 shares of the company’s stock worth $298,043,000 after purchasing an additional 315,808 shares during the period. Northern Trust Corp raised its stake in GE HealthCare Technologies by 8.9% during the third quarter. Northern Trust Corp now owns 4,205,506 shares of the company’s stock worth $286,143,000 after acquiring an additional 342,040 shares in the last quarter. Finally, Gates Capital Management Inc. raised its stake in GE HealthCare Technologies by 17.5% during the third quarter. Gates Capital Management Inc. now owns 2,708,835 shares of the company’s stock worth $184,309,000 after acquiring an additional 402,900 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Price Performance

Shares of GEHC stock opened at $85.39 on Thursday. The stock has a 50-day moving average price of $87.69 and a 200 day moving average price of $77.00. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The firm has a market cap of $38.97 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 3.05 and a beta of 0.94. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.09 billion. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $1.31 earnings per share. Research analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.97%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GEHC shares. Argus increased their price objective on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Morgan Stanley increased their price objective on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Citigroup increased their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI increased their price objective on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $66.00 to $88.00 in a research note on Monday, February 12th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.92.

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.