Hedges Asset Management LLC Sells 4,475 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• Hedges Asset Management LLC sold 4,475 shares of GE HealthCare Technologies, reducing its holdings by 31.6% to 9,700 shares valued at $718,000.
• Several institutional investors have increased their stakes in the company; notable raises include a 49.9% increase by JPMorgan Chase & Co. and a 9,524.6% increase by GAMMA Investing LLC.
• GE HealthCare Technologies reported a quarterly earnings per share (EPS) of $1.06, beating estimates, and set FY 2025 guidance between $4.430 and $4.630 EPS.

Hedges Asset Management LLC trimmed its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 31.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,700 shares of the company's stock after selling 4,475 shares during the period. Hedges Asset Management LLC's holdings in GE HealthCare Technologies were worth $718,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GEHC. N.E.W. Advisory Services LLC purchased a new position in GE HealthCare Technologies during the 1st quarter worth approximately $25,000. Bogart Wealth LLC boosted its stake in shares of GE HealthCare Technologies by 260.0% during the 1st 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 boosted its stake in shares of GE HealthCare Technologies by 165.7% during the 1st 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. Ameriflex Group Inc. acquired a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at $31,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of GE HealthCare Technologies in the 1st quarter valued at $35,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Morgan Stanley set a $74.00 price objective on shares of GE HealthCare Technologies in a research note on Thursday. Citigroup lifted their price objective on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Finally, Zacks Research upgraded shares of GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $88.40.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC traded up $1.21 on Friday, hitting $75.21. 2,346,018 shares of the company were exchanged, compared to its average volume of 3,943,940. The company's 50 day moving average price is $74.54 and its two-hundred day moving average price is $73.33. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16. The firm has a market capitalization of $34.34 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 2.93 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.15. The company 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 business's revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 EPS. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. Research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were paid a $0.035 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies's payout ratio is presently 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.