Praxis Investment Management Inc. Sells 5,980 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Praxis Investment Management Inc. lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 31.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 12,890 shares of the company’s stock after selling 5,980 shares during the period. Praxis Investment Management Inc.’s holdings in GE HealthCare Technologies were worth $1,040,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in GEHC. Susquehanna Fundamental Investments LLC bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth approximately $20,891,000. Breakwater Capital Group acquired a new position in shares of GE HealthCare Technologies in the first quarter valued at $210,000. Farther Finance Advisors LLC lifted its position in GE HealthCare Technologies by 52.7% in the first quarter. Farther Finance Advisors LLC now owns 4,493 shares of the company’s stock worth $357,000 after purchasing an additional 1,550 shares during the period. Dark Forest Capital Management LP boosted its stake in GE HealthCare Technologies by 154.4% during the fourth quarter. Dark Forest Capital Management LP now owns 7,343 shares of the company’s stock worth $574,000 after buying an additional 4,457 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in GE HealthCare Technologies by 2.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 12,891 shares of the company’s stock valued at $1,040,000 after buying an additional 300 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $71.28 on Friday. The firm has a market cap of $32.64 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 2.40 and a beta of 1.13. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a 50 day moving average of $69.57 and a 200-day moving average of $77.92.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. The firm had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period last year, the firm posted $0.90 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were paid a $0.035 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.20%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 2.95%.

GE HealthCare Technologies announced that its Board of Directors has approved a share repurchase program on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have recently commented on GEHC. Piper Sandler reduced their price objective on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the stock a “buy” rating in a research report on Monday, April 14th. Wells Fargo & Company decreased their price objective on GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Morgan Stanley dropped their target price on GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group cut their target price on 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. Three investment analysts have rated the stock with a hold rating, nine have given 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.

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.