Price T Rowe Associates Inc. MD Lowers Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• Price T Rowe Associates Inc. MD reduced its holdings in GE HealthCare Technologies by 51.9% in Q1 2023, owning approximately 2.97 million shares worth $239.41 million after selling over 3 million shares.
• Several institutional investors recently adjusted their stakes in GE HealthCare, with notable increases from Bogart Wealth LLC and Stonebridge Financial Group LLC, which lifted their stakes by 260% and 165.7% respectively.
• GE HealthCare Technologies reported an earnings beat with $1.06 EPS against expectations of $0.91, along with a revenue of $5 billion for the quarter, reflecting a 3.5% year-over-year growth.

Price T Rowe Associates Inc. MD lowered its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 51.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,966,334 shares of the company's stock after selling 3,198,337 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.65% of GE HealthCare Technologies worth $239,414,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GEHC. N.E.W. Advisory Services LLC purchased a new position in GE HealthCare Technologies in the first quarter worth approximately $25,000. Bogart Wealth LLC lifted its stake in GE HealthCare Technologies by 260.0% in the first quarter. Bogart Wealth LLC now owns 342 shares of the company's stock worth $28,000 after acquiring an additional 247 shares during the last quarter. Stonebridge Financial Group LLC lifted its stake in GE HealthCare Technologies by 165.7% in the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock worth $29,000 after acquiring an additional 222 shares during the last quarter. LGT Financial Advisors LLC lifted its stake in GE HealthCare Technologies by 46.2% in the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after acquiring an additional 123 shares during the last quarter. Finally, Accredited Wealth Management LLC purchased a new position in GE HealthCare Technologies in the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GEHC shares. The Goldman Sachs Group decreased their price target on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company reduced their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Citigroup boosted their price objective on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. BTIG Research restated a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Finally, UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and reduced their price objective for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Stock Up 2.8%

Shares of NASDAQ:GEHC opened at $75.22 on Friday. The firm has a 50 day simple moving average of $74.00 and a 200-day simple moving average of $75.14. The company has a market capitalization of $34.34 billion, a PE ratio of 15.41, a P/E/G ratio of 2.87 and a beta of 1.13. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. 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 (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.15. The business had revenue of $5 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 EPS. 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 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

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

GE HealthCare Technologies declared that its Board of Directors has approved a share repurchase plan on Wednesday, April 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors 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.

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