MetLife Investment Management LLC Sells 2,185 Shares of GE HealthCare Technologies Inc. $GEHC

by · The Cerbat Gem

MetLife Investment Management LLC reduced its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,583 shares of the company’s stock after selling 2,185 shares during the quarter. MetLife Investment Management LLC’s holdings in GE HealthCare Technologies were worth $9,732,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC lifted its holdings in GE HealthCare Technologies by 3.2% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,751,773 shares of the company’s stock worth $464,226,000 after acquiring an additional 176,572 shares during the period. JPMorgan Chase & Co. lifted its holdings in GE HealthCare Technologies by 49.9% during the first quarter. JPMorgan Chase & Co. now owns 5,140,549 shares of the company’s stock worth $414,894,000 after acquiring an additional 1,711,963 shares during the period. Dimensional Fund Advisors LP lifted its holdings in GE HealthCare Technologies by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,943,579 shares of the company’s stock worth $398,975,000 after acquiring an additional 157,839 shares during the period. Northern Trust Corp lifted its holdings in GE HealthCare Technologies by 13.6% during the fourth quarter. Northern Trust Corp now owns 4,631,875 shares of the company’s stock worth $362,120,000 after acquiring an additional 555,816 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in GE HealthCare Technologies by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,096 shares of the company’s stock worth $259,956,000 after acquiring an additional 416,386 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GEHC. Wall Street Zen upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. Wells Fargo & Company dropped their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Citigroup boosted their target price on GE HealthCare Technologies from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lowered their target price for the company from $74.00 to $73.00 in a research note on Monday, May 5th. Finally, BTIG Research restated a “buy” rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.55.

Check Out Our Latest Stock Analysis on GEHC

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $74.09 on Wednesday. The stock has a market cap of $33.83 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 2.85 and a beta of 1.13. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16. The stock has a fifty day moving average of $74.10 and a 200-day moving average of $74.95.

GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.15. The company had revenue of $5 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 earnings per share. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were given 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 payout ratio is 2.87%.

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

GE HealthCare Technologies Profile

(Free Report)

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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