Hobbs Group Advisors LLC Reduces Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Hobbs Group Advisors LLC decreased its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,409 shares of the company’s stock after selling 152 shares during the quarter. Hobbs Group Advisors LLC’s holdings in GE HealthCare Technologies were worth $579,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. CoreFirst Bank & Trust purchased a new position in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $25,000. Runnymede Capital Advisors Inc. bought a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $28,000. Continuum Advisory LLC raised its stake in GE HealthCare Technologies by 101.8% during the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock valued at $31,000 after buying an additional 168 shares during the last quarter. Bank of Jackson Hole Trust bought a new position in shares of GE HealthCare Technologies during the 4th quarter valued at $32,000. Finally, OFI Invest Asset Management purchased a new position in shares of GE HealthCare Technologies in the 4th quarter worth $34,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Down 2.0 %

Shares of GEHC stock opened at $80.01 on Friday. The stock has a fifty day simple moving average of $86.70 and a two-hundred day simple moving average of $85.86. GE HealthCare Technologies Inc. has a 52-week low of $74.51 and a 52-week high of $94.80. The firm has a market capitalization of $36.59 billion, a PE ratio of 18.48, a PEG ratio of 3.19 and a beta of 1.13. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.33 billion. On average, analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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 given a dividend of $0.035 per share. The ex-dividend date is Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio is 3.23%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wells Fargo & Company increased their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Citigroup increased their price objective on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $100.00 in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $98.75.

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.