Hawk Ridge Capital Management LP Decreases Stake in GE HealthCare Technologies Inc. $GEHC

Key Points

• Hawk Ridge Capital Management LP reduced its stake in GE HealthCare Technologies by 4.7%, holding 385,657 shares valued at approximately $31.1 million, making it the firm's 26th largest investment.
• GE HealthCare Technologies reported Q2 earnings with an EPS of $1.06, surpassing estimates of $0.91, along with quarterly revenue of $5 billion, which exceeded expectations.
• The stock received upgraded ratings, with Zacks Research changing its rating from "hold" to "strong-buy" and analysts projecting a consensus target price of $88.55.

Hawk Ridge Capital Management LP lowered its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 385,657 shares of the company's stock after selling 19,100 shares during the quarter. GE HealthCare Technologies accounts for 1.5% of Hawk Ridge Capital Management LP's holdings, making the stock its 26th biggest position. Hawk Ridge Capital Management LP owned approximately 0.08% of GE HealthCare Technologies worth $31,126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GEHC. Mercer Global Advisors Inc. ADV increased its stake in shares of GE HealthCare Technologies by 19.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 30,777 shares of the company's stock worth $2,406,000 after acquiring an additional 4,998 shares during the period. Aptus Capital Advisors LLC boosted its holdings in GE HealthCare Technologies by 13.3% during the fourth quarter. Aptus Capital Advisors LLC now owns 4,763 shares of the company's stock worth $372,000 after buying an additional 558 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in GE HealthCare Technologies by 38.9% during the fourth quarter. Ameriprise Financial Inc. now owns 515,985 shares of the company's stock worth $40,337,000 after buying an additional 144,495 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in GE HealthCare Technologies during the fourth quarter worth $76,093,000. Finally, Benjamin Edwards Inc. boosted its holdings in GE HealthCare Technologies by 19.5% during the fourth quarter. Benjamin Edwards Inc. now owns 4,632 shares of the company's stock worth $362,000 after buying an additional 757 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Price Performance

GEHC traded up $2.43 during midday trading on Monday, hitting $78.16. 6,233,528 shares of the company traded hands, compared to its average volume of 3,967,709. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $35.68 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 2.89 and a beta of 1.13. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The business has a 50 day simple moving average of $74.28 and a two-hundred day simple moving average of $73.89.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly 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. The firm had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The company's revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the firm posted $1.00 earnings per share. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. On average, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were 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 was Friday, July 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.87%.

Analyst Ratings Changes

A number of brokerages recently issued reports on GEHC. Zacks Research raised shares of GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 28th. Citigroup increased their price target on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Morgan Stanley lowered 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 report on Thursday, July 31st. BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Finally, Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $88.55.

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.