Apollon Wealth Management LLC Lowers Stake in GE HealthCare Technologies Inc. $GEHC

Apollon Wealth Management LLC lowered its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,111 shares of the company’s stock after selling 474 shares during the quarter. Apollon Wealth Management LLC’s holdings in GE HealthCare Technologies were worth $749,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings 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 worth $414,894,000 after buying an additional 1,711,963 shares in the last quarter. Nuveen LLC purchased a new position in shares of GE HealthCare Technologies in the first quarter worth $77,058,000. Eminence Capital LP lifted its holdings 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 worth $146,822,000 after buying an additional 507,101 shares in the last quarter. Homestead Advisers Corp lifted its holdings 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 worth $79,790,000 after buying an additional 475,500 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings 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 worth $251,121,000 after buying an additional 409,636 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Up 1.2%

Shares of GEHC opened at $73.22 on Thursday. The company’s fifty day moving average is $74.43 and its 200 day moving average is $72.17. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The stock has a market capitalization of $33.43 billion, a PE ratio of 15.00, a P/E/G ratio of 2.76 and a beta of 1.13. 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) last posted 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 business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter in the previous year, the business posted $1.00 earnings per share. The business’s 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. Sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be given 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 payout ratio is 2.87%.

Wall Street Analyst Weigh In

Several research firms have recently commented on GEHC. BTIG Research boosted their target price on shares of GE HealthCare Technologies from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley set a $74.00 target price on shares of GE HealthCare Technologies in a report on Thursday, September 18th. Citigroup downgraded shares of GE HealthCare Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $93.00 to $83.00 in a report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of GE HealthCare Technologies in a report on Tuesday. Finally, Barclays assumed coverage on shares of GE HealthCare Technologies in a research report on Monday. They issued an “equal weight” rating and a $86.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $85.20.

GE HealthCare Technologies 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.