GE HealthCare Technologies Inc. $GEHC Shares Sold by W1M Asset Management Ltd

Key Points

• W1M Asset Management sharply reduced its GE HealthCare position by 98.3% in the second quarter, selling 910,002 shares and retaining 15,282 shares valued at approximately $978,000.
• GE HealthCare reported quarterly earnings of $1.13 per share, exceeding estimates of $1.04, while revenue rose 5.8% year over year to $5.29 billion.
• Analysts maintain a generally cautious outlook, with an average rating of “Hold” and an average price target of $77.73; the company also pays a quarterly dividend of $0.035 per share.

W1M Asset Management Ltd reduced its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 98.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,282 shares of the company's stock after selling 910,002 shares during the period. W1M Asset Management Ltd's holdings in GE HealthCare Technologies were worth $978,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise grew its holdings in shares of GE HealthCare Technologies by 16,539.1% during the first quarter. Banque Cantonale Vaudoise now owns 25,957 shares of the company's stock worth $1,849,000 after buying an additional 25,801 shares in the last quarter. Allstate Corp raised its position in shares of GE HealthCare Technologies by 100.3% in the fourth quarter. Allstate Corp now owns 32,688 shares of the company's stock valued at $2,681,000 after buying an additional 16,365 shares during the last quarter. Auto Owners Insurance Co lifted its stake in shares of GE HealthCare Technologies by 9,525.4% in the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company's stock worth $278,725,000 after buying an additional 33,629,559 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of GE HealthCare Technologies in the fourth quarter worth about $43,394,000. Finally, Northside Capital Management LLC lifted its stake in shares of GE HealthCare Technologies by 26.5% in the second quarter. Northside Capital Management LLC now owns 241,923 shares of the company's stock worth $15,485,000 after buying an additional 50,634 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Trading Up 1.0%

GEHC opened at $74.82 on Friday. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77. The stock has a market capitalization of $33.80 billion, a PE ratio of 17.16, a P/E/G ratio of 2.16 and a beta of 0.69. The business's 50 day moving average price is $66.61 and its 200 day moving average price is $69.60. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.09. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same period in the prior year, the business posted $1.06 earnings per share. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.93 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 24th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.2%. The ex-dividend date was Friday, July 24th. GE HealthCare Technologies's payout ratio is 3.21%.

Analysts Set New Price Targets

A number of research firms have commented on GEHC. BNP Paribas Exane cut their price objective on shares of GE HealthCare Technologies from $95.00 to $88.00 in a report on Friday, May 1st. Zacks Research upgraded GE HealthCare Technologies from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. BMO Capital Markets started coverage on GE HealthCare Technologies in a research report on Wednesday, July 8th. They issued a "market perform" rating and a $70.00 price target for the company. Rothschild & Co Redburn cut their price target on GE HealthCare Technologies from $110.00 to $98.00 in a report on Thursday, April 30th. Finally, Evercore restated an "outperform" rating and issued a $84.00 target price on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, GE HealthCare Technologies has an average rating of "Hold" and an average price target of $77.73.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies NASDAQ: GEHC is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.

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