GE HealthCare Technologies Inc. $GEHC Shares Sold by Sippican Capital Advisors

Key Points

• Sippican Capital Advisors significantly reduced its holdings in GE HealthCare Technologies by 38.3% during the 2nd quarter, owning 10,088 shares valued at approximately $747,000 after the sale.
• Multiple institutional investors, such as Park Avenue Securities and Farther Finance Advisors, have increased their stakes in the company, demonstrating strong interest from institutional players.
• GE HealthCare Technologies recently reported earnings of $1.06 per share, exceeding the consensus estimate, and announced a quarterly dividend of $0.035 per share set to be paid on November 14th.

Sippican Capital Advisors lessened its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 38.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,088 shares of the company's stock after selling 6,259 shares during the quarter. Sippican Capital Advisors' holdings in GE HealthCare Technologies were worth $747,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Park Avenue Securities LLC lifted its holdings in shares of GE HealthCare Technologies by 32.3% during the first quarter. Park Avenue Securities LLC now owns 5,887 shares of the company's stock worth $475,000 after purchasing an additional 1,437 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of GE HealthCare Technologies by 52.7% during the first quarter. Farther Finance Advisors LLC now owns 4,493 shares of the company's stock worth $357,000 after purchasing an additional 1,550 shares during the period. GAMMA Investing LLC lifted its holdings in shares of GE HealthCare Technologies by 19.2% during the first quarter. GAMMA Investing LLC now owns 9,559 shares of the company's stock worth $772,000 after purchasing an additional 1,543 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of GE HealthCare Technologies by 2.4% during the first quarter. Assenagon Asset Management S.A. now owns 12,891 shares of the company's stock worth $1,040,000 after purchasing an additional 300 shares during the period. Finally, CX Institutional lifted its holdings in shares of GE HealthCare Technologies by 7.8% during the first quarter. CX Institutional now owns 3,893 shares of the company's stock worth $314,000 after purchasing an additional 281 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley set a $74.00 price target on GE HealthCare Technologies in a report on Thursday, September 18th. BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Wall Street Zen downgraded GE HealthCare Technologies from a "buy" rating to a "hold" rating in a report on Saturday, September 20th. Zacks Research downgraded GE HealthCare Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, September 29th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of GE HealthCare Technologies in a research note on Saturday, September 27th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.78.

GE HealthCare Technologies Trading Down 4.3%

Shares of GEHC stock opened at $71.01 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. The company has a market cap of $32.42 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 2.71 and a beta of 1.13. The stock has a 50 day simple moving average of $74.31 and a 200-day simple moving average of $72.28. 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 earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.15. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the prior year, the company posted $1.00 EPS. The business's quarterly revenue was up 3.5% on a year-over-year basis. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, October 24th. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.87%.

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.

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