Klingman & Associates LLC Sells 1,716 Shares of GE HealthCare Technologies Inc. $GEHC

Klingman & Associates LLC reduced its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 32.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,495 shares of the company’s stock after selling 1,716 shares during the quarter. Klingman & Associates LLC’s holdings in GE HealthCare Technologies were worth $259,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in GEHC. JPMorgan Chase & Co. grew its position in shares of 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 purchasing an additional 1,711,963 shares during the last quarter. Nuveen LLC acquired a new stake in shares of GE HealthCare Technologies in the first quarter valued at about $77,058,000. Eminence Capital LP grew its position in shares of GE HealthCare Technologies by 38.7% in the first quarter. Eminence Capital LP now owns 1,819,129 shares of the company’s stock valued at $146,822,000 after purchasing an additional 507,101 shares during the last quarter. Homestead Advisers Corp grew its position in shares of GE HealthCare Technologies by 92.7% in the first quarter. Homestead Advisers Corp now owns 988,600 shares of the company’s stock valued at $79,790,000 after purchasing an additional 475,500 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of GE HealthCare Technologies by 15.2% in the first quarter. Canada Pension Plan Investment Board now owns 3,111,398 shares of the company’s stock valued at $251,121,000 after purchasing an additional 409,636 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on GEHC. Morgan Stanley set a $74.00 price target on GE HealthCare Technologies in a research report on Thursday, September 18th. BTIG Research raised their price target on GE HealthCare Technologies from $87.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Zacks Research downgraded GE HealthCare Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Citigroup downgraded GE HealthCare Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $93.00 to $83.00 in a research report on Tuesday, October 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of GE HealthCare Technologies in a research report on Tuesday, October 14th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.20.

GE HealthCare Technologies Stock Up 0.8%

GEHC stock opened at $76.10 on Wednesday. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The company has a market cap of $34.74 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 2.88 and a beta of 1.13. The business’s 50-day simple moving average is $74.60 and its 200 day simple moving average is $72.16. The company has a quick ratio of 0.93, a current ratio of 1.16 and a debt-to-equity ratio of 0.85.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.15. The business had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the business earned $1.00 earnings per share. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. On average, research analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be paid a dividend of $0.035 per share. The ex-dividend date is Friday, October 24th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 2.87%.

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.