GE HealthCare Technologies Inc. $GEHC Stock Holdings Lowered by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. reduced its stake in GE HealthCare Technologies Inc. by 2.6% in Q1, owning approximately $18.63 million in shares after selling 6,657 shares.
• Despite the minor trim, institutional investors significantly own 82.06% of GE HealthCare Technologies, with various hedge funds increasing their positions during the same period.
• Analysts have given GE HealthCare Technologies an average rating of "Moderate Buy", with eight buy ratings and an average price target of $88.55.

APG Asset Management N.V. trimmed its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 249,353 shares of the company's stock after selling 6,657 shares during the quarter. APG Asset Management N.V. owned approximately 0.05% of GE HealthCare Technologies worth $18,631,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GEHC. Breakwater Capital Group bought a new position in shares of GE HealthCare Technologies during the first quarter worth about $210,000. Bessemer Group Inc. grew its position in shares of GE HealthCare Technologies by 24.3% in the 1st quarter. Bessemer Group Inc. now owns 6,671 shares of the company's stock worth $538,000 after acquiring an additional 1,306 shares in the last quarter. Flagship Harbor Advisors LLC increased its holdings in shares of GE HealthCare Technologies by 17.4% in the 1st quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company's stock valued at $278,000 after acquiring an additional 511 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of GE HealthCare Technologies by 23.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company's stock valued at $4,105,000 after acquiring an additional 9,769 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in GE HealthCare Technologies by 52.7% during 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 last quarter. Institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GEHC shares. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $74.00 to $73.00 in a report on Monday, May 5th. Morgan Stanley dropped their price objective on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. Evercore ISI cut their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Finally, The Goldman Sachs Group cut their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $88.55.

GE HealthCare Technologies Price Performance

GEHC stock traded down $0.54 during trading on Thursday, hitting $73.72. The company had a trading volume of 2,511,916 shares, compared to its average volume of 3,982,529. The business has a 50 day moving average of $74.15 and a 200 day moving average of $74.94. The firm has a market capitalization of $33.66 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 2.83 and a beta of 1.13. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.15. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The company had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the previous year, the firm earned $1.00 EPS. GE HealthCare Technologies's revenue was up 3.5% on a year-over-year basis. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. As a group, research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were given a dividend of $0.035 per share. The ex-dividend date was Friday, July 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is 2.87%.

GE HealthCare Technologies declared that its Board of Directors has authorized a stock buyback plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

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.