Praxis Investment Management Inc. Sells 2,980 Shares of GE HealthCare Technologies Inc. $GEHC

Praxis Investment Management Inc. lessened its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 23.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,910 shares of the company’s stock after selling 2,980 shares during the period. Praxis Investment Management Inc.’s holdings in GE HealthCare Technologies were worth $734,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Bessemer Group Inc. lifted its stake in GE HealthCare Technologies by 24.3% in the 1st quarter. Bessemer Group Inc. now owns 6,671 shares of the company’s stock valued at $538,000 after acquiring an additional 1,306 shares in the last quarter. Flagship Harbor Advisors LLC lifted its stake in GE HealthCare Technologies by 17.4% in the 1st quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company’s stock valued at $278,000 after acquiring an additional 511 shares in the last quarter. Lineweaver Wealth Advisors LLC bought a new stake in GE HealthCare Technologies in the 2nd quarter valued at approximately $592,000. Wealth Enhancement Advisory Services LLC lifted its stake in GE HealthCare Technologies by 23.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company’s stock valued at $4,105,000 after acquiring an additional 9,769 shares in the last quarter. Finally, Exome Asset Management LLC bought a new stake in GE HealthCare Technologies in the 1st quarter valued at approximately $2,050,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Up 0.9%

NASDAQ:GEHC opened at $74.05 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.16 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $33.81 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 2.80 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 stock’s 50 day moving average price is $74.51 and its two-hundred day moving average price is $72.08.

GE HealthCare Technologies (NASDAQ:GEHC) last posted 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 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 firm’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.00 EPS. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. Equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 24th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, October 24th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies’s payout ratio is presently 2.87%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Morgan Stanley set a $74.00 target price on GE HealthCare Technologies in a research note on Thursday, September 18th. Barclays started coverage on GE HealthCare Technologies in a research note on Monday. They issued an “equal weight” rating and a $86.00 target price on the stock. Zacks Research lowered GE HealthCare Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of GE HealthCare Technologies in a research report on Tuesday. Finally, Citigroup lowered GE HealthCare Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $93.00 to $83.00 in a research report on Tuesday, October 7th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $85.20.

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.