Quarry LP Sells 3,757 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• Quarry LP reduced its holdings in GE HealthCare Technologies by 54.0% in the first quarter, selling 3,757 shares and leaving it with a total of 3,199 shares worth approximately $258,000.
• Several institutional investors have shown interest in GE HealthCare Technologies, with 82.06% of the company's stock now owned by these investors, indicating strong institutional support.
• Analysts have generally positive ratings for GE HealthCare Technologies, with one Strong Buy, eight Buy ratings, and an average target price of $88.55 for the stock.

Quarry LP trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 54.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,199 shares of the company's stock after selling 3,757 shares during the quarter. Quarry LP's holdings in GE HealthCare Technologies were worth $258,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC bought a new stake in GE HealthCare Technologies during the 1st quarter worth approximately $25,000. Bogart Wealth LLC lifted its position in shares of GE HealthCare Technologies by 260.0% in the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock worth $28,000 after purchasing an additional 247 shares during the period. Stonebridge Financial Group LLC lifted its position in shares of GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 222 shares during the period. Accredited Wealth Management LLC acquired a new position in shares of GE HealthCare Technologies in the 4th quarter worth approximately $30,000. Finally, Ameriflex Group Inc. acquired a new position in shares of GE HealthCare Technologies in the 4th quarter worth approximately $31,000. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GEHC. Zacks Research upgraded shares of GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. Morgan Stanley dropped 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 research report on Thursday, July 31st. Citigroup boosted their price target 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. Wall Street Zen upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Finally, BTIG Research restated a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $88.55.

GE HealthCare Technologies Stock Up 1.1%

Shares of GE HealthCare Technologies stock traded up $0.78 during trading hours on Wednesday, reaching $72.38. The company's stock had a trading volume of 3,544,732 shares, compared to its average volume of 2,800,585. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80. The company has a market capitalization of $33.05 billion, a P/E ratio of 14.83, a P/E/G ratio of 2.82 and a beta of 1.13. The stock's fifty day simple moving average is $74.27 and its two-hundred day simple moving average is $74.38. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.15. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same period last year, the firm earned $1.00 earnings per share. The business's quarterly revenue 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. On average, research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were given a dividend of $0.035 per share. The ex-dividend date was Friday, July 25th. This represents a $0.14 annualized dividend and a yield of 0.2%. GE HealthCare Technologies's dividend payout ratio is presently 2.87%.

GE HealthCare Technologies Company 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.