GE HealthCare Technologies Inc. $GEHC Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly reduced its stake in GE HealthCare Technologies by 49.5%, selling 12,941 shares, which left them with a total of 13,210 shares valuing approximately $978,000.
• Research analysts have recently downgraded GE HealthCare Technologies, with Citigroup lowering its rating from "buy" to "neutral" and decreasing the target price from $93.00 to $83.00.
• GE HealthCare Technologies announced a quarterly dividend of $0.035 per share, set to be distributed to stockholders on November 14th, reflecting a low dividend yield of 0.2%.

AlphaQuest LLC cut its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 49.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,210 shares of the company's stock after selling 12,941 shares during the period. AlphaQuest LLC's holdings in GE HealthCare Technologies were worth $978,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its stake in shares of GE HealthCare Technologies by 24.3% in the first quarter. Bessemer Group Inc. now owns 6,671 shares of the company's stock worth $538,000 after purchasing an additional 1,306 shares in the last quarter. Lineweaver Wealth Advisors LLC bought a new position in shares of GE HealthCare Technologies in the second quarter worth $592,000. Exome Asset Management LLC bought a new position in shares of GE HealthCare Technologies in the first quarter worth $2,050,000. Bridge Creek Capital Management LLC grew its stake in shares of GE HealthCare Technologies by 58.2% in the second quarter. Bridge Creek Capital Management LLC now owns 31,852 shares of the company's stock worth $2,359,000 after purchasing an additional 11,719 shares in the last quarter. Finally, Czech National Bank grew its stake in shares of GE HealthCare Technologies by 6.6% in the second quarter. Czech National Bank now owns 111,923 shares of the company's stock worth $8,290,000 after purchasing an additional 6,889 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GEHC shares. Morgan Stanley set a $74.00 target price on GE HealthCare Technologies in a research note on Thursday, September 18th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of GE HealthCare Technologies in a research note on Tuesday, October 14th. Zacks Research cut GE HealthCare Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Wall Street Zen cut GE HealthCare Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, September 20th. Finally, Citigroup cut GE HealthCare Technologies from a "buy" rating to a "neutral" rating and decreased their target price for the company from $93.00 to $83.00 in a research note on Tuesday, October 7th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $85.20.

GE HealthCare Technologies Stock Up 1.1%

Shares of GE HealthCare Technologies stock opened at $78.14 on Friday. The stock has a 50-day moving average price of $74.78 and a 200 day moving average price of $72.53. The company has a market cap of $35.68 billion, a P/E ratio of 16.01, a P/E/G ratio of 2.99 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. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced 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. The firm had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The business's revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the business 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 fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, October 24th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies's dividend payout ratio is currently 2.87%.

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.

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