GE HealthCare Technologies Inc. $GEHC Stock Position Lowered by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC has reduced its stake in GE HealthCare Technologies by 7.7%, selling 16,509 shares, leaving it with 198,171 shares valued at approximately $15.99 million.
• Several analysts have downgraded their price targets for GE HealthCare Technologies, with Goldman Sachs lowering it from $94.00 to $82.00, while eight analysts still maintain a "Buy" rating.
• The company reported earnings per share of $1.06 for the latest quarter, exceeding expectations, along with a revenue increase of 3.5% year-over-year, reaching $5 billion.

Rafferty Asset Management LLC trimmed its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 198,171 shares of the company's stock after selling 16,509 shares during the period. Rafferty Asset Management LLC's holdings in GE HealthCare Technologies were worth $15,994,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC acquired a new stake in shares of GE HealthCare Technologies in the first quarter worth $25,000. Bogart Wealth LLC raised its position in GE HealthCare Technologies by 260.0% during the first quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after buying an additional 247 shares during the period. Stonebridge Financial Group LLC raised its position in GE HealthCare Technologies by 165.7% during the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after buying an additional 222 shares during the period. LGT Financial Advisors LLC grew its stake in GE HealthCare Technologies by 46.2% during the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after acquiring an additional 123 shares in the last quarter. Finally, Accredited Wealth Management LLC acquired a new position in shares of GE HealthCare Technologies in the 4th quarter valued at about $30,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. The Goldman Sachs Group decreased 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 report on Thursday, May 1st. Wells Fargo & Company lowered their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Morgan Stanley dropped their price target on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Finally, Evercore ISI lowered their target price on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $74.09 on Wednesday. The business's 50-day simple moving average is $74.10 and its 200-day simple moving average is $74.95. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The firm has a market cap of $33.83 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 2.85 and a beta of 1.13.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $5 billion during the quarter, compared to analysts' expectations of $4.96 billion. During the same quarter in the prior year, the business earned $1.00 earnings per share. The company's 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. As a group, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were issued 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 currently 2.87%.

GE HealthCare Technologies declared that its board has initiated a share repurchase plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

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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