Avity Investment Management Inc. Sells 260,980 Shares of 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. decreased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 68.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Breakwater Capital Group acquired a new position in shares of GE HealthCare Technologies in the 1st quarter valued at $210,000. Bessemer Group Inc. boosted its stake in 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 purchasing an additional 1,306 shares during the period. Flagship Harbor Advisors LLC boosted its stake in GE HealthCare Technologies by 17.4% in the 1st quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company's stock worth $278,000 after purchasing an additional 511 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in GE HealthCare Technologies by 23.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company's stock worth $4,105,000 after purchasing an additional 9,769 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in GE HealthCare Technologies by 52.7% in the 1st 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. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

GEHC has been the subject of a number of research analyst reports. BTIG Research reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. Zacks Research raised shares of GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 28th. 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. 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. Finally, Morgan Stanley reduced their price objective on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $88.40.

GE HealthCare Technologies Stock Down 1.9%

GE HealthCare Technologies stock opened at $76.44 on Monday. The stock has a market cap of $34.90 billion, a P/E ratio of 15.66, a P/E/G ratio of 2.92 and a beta of 1.13. The company has a quick ratio of 0.93, a current ratio of 1.16 and a debt-to-equity ratio of 0.85. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The company's 50-day moving average price is $74.46 and its two-hundred day moving average price is $73.43.

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

GE HealthCare Technologies Announces Dividend

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

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.

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