Northern Trust Corp Lowers Stock Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• Northern Trust Corp reduced its stake in GE HealthCare Technologies Inc. by 2.5%, holding 4,517,328 shares worth approximately $364.6 million as of its latest SEC filing.
• Many institutional investors showed bullish sentiment, with JPMorgan Chase boosting its stake by 49.9%, now owning over 5.1 million shares.
• Analysts have various price targets for GE HealthCare Technologies, with an average rating of "Moderate Buy" and a price target of $88.55, reflecting a positive outlook for the company.

Northern Trust Corp decreased its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,517,328 shares of the company's stock after selling 114,547 shares during the period. Northern Trust Corp owned about 0.99% of GE HealthCare Technologies worth $364,594,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEHC. Jump Financial LLC grew its position in GE HealthCare Technologies by 15.3% in the fourth quarter. Jump Financial LLC now owns 8,740 shares of the company's stock worth $683,000 after acquiring an additional 1,163 shares in the last quarter. NewEdge Advisors LLC grew its position in GE HealthCare Technologies by 4.2% in the fourth quarter. NewEdge Advisors LLC now owns 17,907 shares of the company's stock worth $1,400,000 after acquiring an additional 715 shares in the last quarter. First Trust Advisors LP grew its position in GE HealthCare Technologies by 22.7% in the fourth quarter. First Trust Advisors LP now owns 568,569 shares of the company's stock worth $44,451,000 after acquiring an additional 105,234 shares in the last quarter. MetLife Investment Management LLC grew its position in GE HealthCare Technologies by 2.0% in the fourth quarter. MetLife Investment Management LLC now owns 122,768 shares of the company's stock worth $9,598,000 after acquiring an additional 2,407 shares in the last quarter. Finally, Natixis purchased a new position in GE HealthCare Technologies in the fourth quarter worth $2,187,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GEHC. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their price target for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Morgan Stanley cut their price target 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. Wall Street Zen upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. The Goldman Sachs Group cut their price target on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Evercore ISI dropped their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, GE HealthCare Technologies has an average rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Stock Down 1.4%

GEHC traded down $1.0350 on Monday, hitting $74.1850. The company had a trading volume of 348,989 shares, compared to its average volume of 4,005,904. 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 Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The stock has a fifty day simple moving average of $74.00 and a 200-day simple moving average of $75.04. The firm has a market capitalization of $33.87 billion, a P/E ratio of 15.20, a P/E/G ratio of 2.87 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data 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 net margin of 11.22% and a return on equity of 23.93%. The business had revenue of $5 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same period last year, the business posted $1.00 earnings per share. GE HealthCare Technologies's quarterly 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. As a group, equities analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies declared that its Board of Directors has initiated a share repurchase plan on Wednesday, April 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were given 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 dividend payout ratio (DPR) is 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.