GE HealthCare Technologies Inc. $GEHC Shares Sold by Ethic Inc.

Key Points

• Ethic Inc. reduced its holdings in GE HealthCare Technologies by 50.2%, owning 17,434 shares valued at approximately $1.39 million as of the end of the last quarter.
• Analysts have mixed views on the stock, with ratings ranging from "hold" to "buy," and a consensus average target price set at $88.55.
• GE HealthCare announced a quarterly dividend of $0.035 per share and has authorized a stock buyback program amounting to $1 billion for share repurchase.

Ethic Inc. reduced its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 50.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,434 shares of the company's stock after selling 17,578 shares during the quarter. Ethic Inc.'s holdings in GE HealthCare Technologies were worth $1,387,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of GE HealthCare Technologies by 49.9% during the first quarter. JPMorgan Chase & Co. now owns 5,140,549 shares of the company's stock valued at $414,894,000 after purchasing an additional 1,711,963 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of GE HealthCare Technologies by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,943,579 shares of the company's stock valued at $398,975,000 after purchasing an additional 157,839 shares during the period. Northern Trust Corp boosted its stake in shares of GE HealthCare Technologies by 13.6% during the fourth quarter. Northern Trust Corp now owns 4,631,875 shares of the company's stock valued at $362,120,000 after purchasing an additional 555,816 shares during the period. D1 Capital Partners L.P. boosted its stake in shares of GE HealthCare Technologies by 22.0% during the fourth quarter. D1 Capital Partners L.P. now owns 3,486,584 shares of the company's stock valued at $272,581,000 after purchasing an additional 629,270 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of GE HealthCare Technologies by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,096 shares of the company's stock valued at $259,956,000 after purchasing an additional 416,386 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. The Goldman Sachs Group cut their target price on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Citigroup raised their target price on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Wells Fargo & Company cut their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Finally, BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $88.55.

GE HealthCare Technologies Stock Up 2.8%

Shares of GEHC stock traded up $2.07 during mid-day trading on Friday, hitting $75.22. 3,666,534 shares of the stock traded hands, compared to its average volume of 4,086,412. The stock has a market cap of $34.34 billion, a P/E ratio of 15.41, a P/E/G ratio of 2.87 and a beta of 1.13. The stock's fifty day moving average is $74.00 and its two-hundred day moving average is $75.04. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly 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 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%. The company's quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 earnings per share. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. Equities analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

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

GE HealthCare Technologies announced that its board has approved a stock buyback plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

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.