Avity Investment Management Inc. Lowers Stock Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• Avity Investment Management Inc. has significantly reduced its stake in GE HealthCare Technologies, selling 260,980 shares and decreasing its position by 68.0% to hold 123,045 shares worth approximately $9.1 million.
• In addition to Avity, other institutional investors, including Breakwater Capital Group and Bessemer Group Inc., have made adjustments to their positions, indicating strong institutional interest with 82.06% of the company owned by institutional investors.
• GE HealthCare Technologies recently reported earnings of $1.06 per share, surpassing estimates and showing a revenue increase of 3.5% year-over-year, with an average target price for its stock set at $88.40.

Avity Investment Management Inc. cut its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 68.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,045 shares of the company's stock after selling 260,980 shares during the period. Avity Investment Management Inc.'s holdings in GE HealthCare Technologies were worth $9,114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GEHC. N.E.W. Advisory Services LLC purchased a new stake in GE HealthCare Technologies during the first quarter worth about $25,000. Bogart Wealth LLC increased its stake in GE HealthCare Technologies by 260.0% during the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock worth $28,000 after buying an additional 247 shares during the period. Stonebridge Financial Group LLC increased its stake in GE HealthCare Technologies by 165.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock worth $29,000 after buying an additional 222 shares during the period. Ameriflex Group Inc. purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $31,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of GE HealthCare Technologies during the first quarter worth $35,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded up $1.12 during mid-day trading on Friday, reaching $75.12. 2,449,911 shares of the company's stock were exchanged, compared to its average volume of 3,944,882. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. The stock has a market capitalization of $34.29 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 2.93 and a beta of 1.13. The business's fifty day simple moving average is $74.54 and its 200-day simple moving average is $73.33. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the firm posted $1.00 EPS. GE HealthCare Technologies's revenue for the quarter 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. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

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

Wall Street Analyst Weigh In

GEHC has been the topic of a number of recent research reports. BTIG Research reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Zacks Research upgraded GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 28th. Morgan Stanley set a $74.00 price target on GE HealthCare Technologies in a report on Thursday. Citigroup upped their target price on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $88.40.

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.