HighTower Advisors LLC Sells 3,968 Shares of GE HealthCare Technologies Inc. $GEHC

HighTower Advisors LLC trimmed its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 2.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,906 shares of the company's stock after selling 3,968 shares during the period. HighTower Advisors LLC's holdings in GE HealthCare Technologies were worth $11,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in GE HealthCare Technologies by 49.9% during the 1st 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. Eminence Capital LP purchased a new stake in GE HealthCare Technologies during the 4th quarter valued at $102,574,000. BNP Paribas Financial Markets purchased a new stake in GE HealthCare Technologies during the 4th quarter valued at $76,093,000. Nuveen LLC purchased a new stake in GE HealthCare Technologies during the 1st quarter valued at $77,058,000. Finally, GAMMA Investing LLC raised its holdings in GE HealthCare Technologies by 9,524.6% during the 1st quarter. GAMMA Investing LLC now owns 771,507 shares of the company's stock valued at $62,268,000 after buying an additional 763,491 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Evercore ISI decreased their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Morgan Stanley decreased their price target on 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. The Goldman Sachs Group decreased their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Citigroup increased their target price on GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, GE HealthCare Technologies has a consensus rating of "Moderate Buy" and an average price target of $88.55.

GE HealthCare Technologies Stock Up 3.0%

Shares of GE HealthCare Technologies stock traded up $2.1910 during trading on Friday, hitting $75.3410. 1,300,167 shares of the stock traded hands, compared to its average volume of 4,013,066. The firm has a market cap of $34.40 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 2.82 and a beta of 1.13. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The stock's fifty day simple moving average is $73.95 and its 200 day simple moving average is $75.30.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.91 by $0.15. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The business's revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter 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 predict 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 declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were paid a dividend of $0.035 per share. 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 currently 2.87%.

GE HealthCare Technologies declared that its Board of Directors has approved a stock repurchase plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

About GE HealthCare Technologies

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.