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 decreased its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 31.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GEHC. JPMorgan Chase & Co. raised its stake in GE HealthCare Technologies by 49.9% in the first quarter. JPMorgan Chase & Co. now owns 5,140,549 shares of the company's stock valued at $414,894,000 after buying an additional 1,711,963 shares during the period. Nuveen LLC bought a new position in shares of GE HealthCare Technologies during the first quarter worth approximately $77,058,000. GAMMA Investing LLC increased its stake in shares of GE HealthCare Technologies by 9,524.6% during the first quarter. GAMMA Investing LLC now owns 771,507 shares of the company's stock worth $62,268,000 after purchasing an additional 763,491 shares during the period. SurgoCap Partners LP increased its stake in shares of GE HealthCare Technologies by 31.2% during the fourth quarter. SurgoCap Partners LP now owns 2,241,000 shares of the company's stock worth $175,201,000 after purchasing an additional 532,811 shares during the period. Finally, Eminence Capital LP increased its stake in shares of GE HealthCare Technologies by 38.7% during the first quarter. Eminence Capital LP now owns 1,819,129 shares of the company's stock worth $146,822,000 after purchasing an additional 507,101 shares during the period. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $76.44 on Friday. The stock's fifty day moving average price is $74.46 and its two-hundred day moving average price is $73.54. 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 current ratio of 1.16 and a quick ratio of 0.93. The firm has a market cap of $34.90 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 2.98 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $5 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same quarter last year, the company posted $1.00 EPS. The company's revenue for the quarter was up 3.5% compared to the same quarter last year. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. As a group, research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

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. 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 dividend payout ratio (DPR) is presently 2.87%.

Wall Street Analysts Forecast Growth

GEHC has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on 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. 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 boosted their price objective on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a report on Thursday, July 31st. BTIG Research restated a "buy" rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.40.

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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