Eminence Capital LP Purchases New Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Eminence Capital LP acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,312,028 shares of the company's stock, valued at approximately $102,574,000. Eminence Capital LP owned 0.29% of GE HealthCare Technologies at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. World Investment Advisors LLC raised its holdings in shares of GE HealthCare Technologies by 44.5% in the third quarter. World Investment Advisors LLC now owns 4,716 shares of the company's stock valued at $443,000 after purchasing an additional 1,453 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in GE HealthCare Technologies by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company's stock worth $94,780,000 after buying an additional 19,010 shares during the period. JPMorgan Chase & Co. raised its holdings in GE HealthCare Technologies by 29.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company's stock valued at $209,624,000 after acquiring an additional 512,778 shares during the period. Nordea Investment Management AB lifted its position in shares of GE HealthCare Technologies by 30.2% during the fourth quarter. Nordea Investment Management AB now owns 43,632 shares of the company's stock worth $3,429,000 after acquiring an additional 10,116 shares in the last quarter. Finally, Park National Corp OH boosted its holdings in shares of GE HealthCare Technologies by 6.0% in the fourth quarter. Park National Corp OH now owns 3,796 shares of the company's stock worth $297,000 after acquiring an additional 216 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Price Performance

Shares of GEHC traded up $4.22 during midday trading on Monday, reaching $74.09. The stock had a trading volume of 4,387,829 shares, compared to its average volume of 3,366,979. The company has a market capitalization of $33.92 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The company's 50-day moving average is $72.49 and its 200 day moving average is $80.58.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. The business had revenue of $4.78 billion for the quarter, compared to analysts' expectations of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The business's quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $0.90 earnings per share. On average, equities analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies announced 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 reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.035 per share. The ex-dividend date is Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.19%. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.95%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GEHC. The Goldman Sachs Group dropped their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their target price for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Wells Fargo & Company cut their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Morgan Stanley lowered their price objective on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Finally, Citigroup reduced their target price on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

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.