Beech Hill Advisors Inc. Sells 11,998 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• Beech Hill Advisors Inc. reduced its stake in GE HealthCare Technologies by 23.8%, selling 11,998 shares and holding 38,354 shares worth approximately $2.84 million at the end of the last quarter.
• GE HealthCare Technologies announced a quarterly dividend of $0.035 per share, with the dividend payout expected on November 14th and a yield of 0.2%.
• The company reported an EPS of $1.06 for the last quarter, exceeding estimates, and projected FY 2025 guidance between $4.430-$4.630 EPS.

Beech Hill Advisors Inc. trimmed its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 23.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,354 shares of the company's stock after selling 11,998 shares during the period. Beech Hill Advisors Inc.'s holdings in GE HealthCare Technologies were worth $2,841,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. N.E.W. Advisory Services LLC acquired a new stake in shares of GE HealthCare Technologies in the 1st quarter worth about $25,000. Bogart Wealth LLC increased its holdings 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 purchasing an additional 247 shares in the last quarter. Stonebridge Financial Group LLC increased its holdings 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 purchasing an additional 222 shares in the last quarter. Gladwyn Financial Advisors Inc. purchased a new stake in shares of GE HealthCare Technologies in the second quarter worth approximately $34,000. Finally, Olde Wealth Management LLC bought a new position in shares of GE HealthCare Technologies in the first quarter valued at approximately $35,000. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Up 1.9%

GEHC opened at $75.48 on Tuesday. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The company has a market cap of $34.46 billion, a PE ratio of 15.47, a price-to-earnings-growth 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. The company has a 50 day moving average of $74.56 and a 200 day moving average of $72.13.

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

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, October 24th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.87%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GEHC. Weiss Ratings restated a "hold (c+)" rating on shares of GE HealthCare Technologies in a research note on Tuesday, October 14th. Barclays assumed coverage on shares of GE HealthCare Technologies in a research report on Monday, October 13th. They set an "equal weight" rating and a $86.00 price target on the stock. BTIG Research upped their price objective on shares of GE HealthCare Technologies from $87.00 to $89.00 and gave the stock a "buy" rating in a research report on Monday, October 13th. Morgan Stanley set a $74.00 target price on shares of GE HealthCare Technologies in a research report on Thursday, September 18th. Finally, Citigroup lowered GE HealthCare Technologies from a "buy" rating to a "neutral" rating and reduced their target price for the company from $93.00 to $83.00 in a report on Tuesday, October 7th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $85.20.

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.

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