GE HealthCare Technologies Inc. $GEHC Position Trimmed by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC reduced its holdings in GE HealthCare Technologies by 5.7%, now owning approximately 294,229 shares, valued at about $23.7 million.
• The company reported a Q2 earnings per share of $1.06, surpassing estimates and demonstrating a 3.5% year-over-year revenue growth to $5 billion.
• GE HealthCare Technologies has received multiple ratings upgrades from analysts, leading to a consensus rating of "Moderate Buy" with an average target price of $88.40.

Intech Investment Management LLC trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 5.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 294,229 shares of the company's stock after selling 17,851 shares during the quarter. Intech Investment Management LLC owned about 0.06% of GE HealthCare Technologies worth $23,747,000 at the end of the most recent quarter.

Several other hedge funds 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 during the 1st quarter worth approximately $25,000. Bogart Wealth LLC raised its holdings in GE HealthCare Technologies by 260.0% in the first quarter. Bogart Wealth LLC now owns 342 shares of the company's stock worth $28,000 after buying an additional 247 shares during the last quarter. Stonebridge Financial Group LLC boosted its position in shares of GE HealthCare Technologies by 165.7% in the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 222 shares during the period. Ameriflex Group Inc. purchased a new position in shares of GE HealthCare Technologies in the fourth quarter valued at $31,000. Finally, Olde Wealth Management LLC bought a new stake in GE HealthCare Technologies during the 1st quarter valued at $35,000. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $78.71 on Wednesday. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. 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 stock has a 50-day moving average price of $74.42 and a two-hundred day moving average price of $73.83. The company has a market capitalization of $35.94 billion, a PE ratio of 16.13, a P/E/G ratio of 2.99 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.91 by $0.15. The company had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.00 earnings per share. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. 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 announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, July 25th. GE HealthCare Technologies's payout ratio is currently 2.87%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GEHC. Zacks Research upgraded GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Morgan Stanley dropped their target price on GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. Citigroup upped their price objective on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, BTIG Research restated a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.