Fjarde AP Fonden Fourth Swedish National Pension Fund Decreases Stock Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in GE HealthCare Technologies by 17.3%, selling 12,500 shares during the 1st quarter.
• GE HealthCare Technologies reported $1.06 earnings per share for the last quarter, exceeding analysts' expectations and showing a 3.5% increase in revenue compared to the previous year.
• The company has announced a share repurchase plan allowing up to $1 billion in stock to be repurchased, indicating the board's belief that the stock is undervalued.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,655 shares of the company's stock after selling 12,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in GE HealthCare Technologies were worth $4,815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of GEHC. N.E.W. Advisory Services LLC bought a new position in shares of GE HealthCare Technologies in the first quarter valued at approximately $25,000. Bogart Wealth LLC grew its holdings in shares of GE HealthCare Technologies by 260.0% in the first quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after acquiring an additional 247 shares in the last quarter. Stonebridge Financial Group LLC grew its holdings in shares of GE HealthCare Technologies by 165.7% in the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares in the last quarter. LGT Financial Advisors LLC grew its holdings in shares of GE HealthCare Technologies by 46.2% in the fourth 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 bought a new position in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $30,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Morgan Stanley reduced their price objective on GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st. Evercore ISI cut their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Piper Sandler cut their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Price Performance

NASDAQ GEHC traded down $0.1510 during trading hours on Thursday, reaching $73.7190. 309,981 shares of the stock traded hands, compared to its average volume of 4,016,869. The stock has a 50 day simple moving average of $73.94 and a two-hundred day simple moving average of $75.40. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year 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. The company has a market cap of $33.66 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 2.83 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating 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 business had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter last year, the business posted $1.00 earnings per share. The company's revenue for the quarter 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, analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were issued a $0.035 dividend. The ex-dividend date was Friday, July 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. GE HealthCare Technologies's payout ratio is currently 2.87%.

GE HealthCare Technologies declared that its board has approved a stock buyback program on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are 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.