Alliancebernstein L.P. Sells 168,961 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• Alliancebernstein L.P. has reduced its stake in GE HealthCare Technologies Inc. by 2.8%, owning approximately 5.96 million shares worth around $480.93 million after selling 168,961 shares.
• Several institutional investors, including N.E.W. Advisory Services LLC and Bogart Wealth LLC, have recently increased their stakes in GE HealthCare Technologies, highlighting strong institutional interest.
• Analyst ratings for GE HealthCare Technologies vary, with one analyst rating it a Strong Buy, eight rating it Buy, and three rating it Hold, indicating a consensus rating of "Moderate Buy" and a target price of $88.55.

Alliancebernstein L.P. trimmed its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 2.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,958,708 shares of the company's stock after selling 168,961 shares during the period. Alliancebernstein L.P. owned approximately 1.30% of GE HealthCare Technologies worth $480,927,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new position in GE HealthCare Technologies in the 1st quarter valued at approximately $25,000. Bogart Wealth LLC raised its holdings in GE HealthCare Technologies by 260.0% in the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after buying an additional 247 shares during the last quarter. Stonebridge Financial Group LLC raised its holdings in GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after buying an additional 222 shares during the last quarter. Ameriflex Group Inc. bought a new position in GE HealthCare Technologies in the 4th quarter valued at approximately $31,000. Finally, Olde Wealth Management LLC bought a new position in GE HealthCare Technologies in the 1st quarter valued at approximately $35,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Up 2.2%

GEHC stock traded up $1.61 during midday trading on Friday, reaching $75.73. 3,009,491 shares of the company's stock traded hands, compared to its average volume of 2,651,304. The company has a market cap of $34.58 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 2.89 and a beta of 1.13. The firm's fifty day moving average price is $74.28 and its 200-day moving average price is $74.02. 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 52 week low of $57.65 and a 52 week high of $94.80.

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

GE HealthCare Technologies Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on GEHC shares. Citigroup raised their price objective on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Zacks Research upgraded shares of GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 28th. BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Morgan Stanley decreased their target price on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Finally, Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, GE HealthCare Technologies has an average rating of "Moderate Buy" and an average price target of $88.55.

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.