Bridge Creek Capital Management LLC Grows Stake in GE HealthCare Technologies Inc. $GEHC

Key Points

• Bridge Creek Capital Management LLC increased its stake in GE HealthCare Technologies Inc. by 58.2% during the second quarter, owning 31,852 shares valued at approximately $2.36 million.
• GE HealthCare Technologies reported $1.06 EPS for the last quarter, exceeding the consensus estimate of $0.91, with revenue of $5 billion compared to expectations of $4.96 billion.
• The company recently announced a quarterly dividend of $0.035 per share, reflecting a 0.2% dividend yield, with a payout ratio of 2.87%.

Bridge Creek Capital Management LLC lifted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 58.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,852 shares of the company's stock after purchasing an additional 11,719 shares during the quarter. Bridge Creek Capital Management LLC's holdings in GE HealthCare Technologies were worth $2,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in GEHC. N.E.W. Advisory Services LLC acquired a new position in GE HealthCare Technologies in the first quarter worth approximately $25,000. Bogart Wealth LLC boosted its position in shares of GE HealthCare Technologies by 260.0% in the first quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after acquiring an additional 247 shares during the period. Stonebridge Financial Group LLC boosted its position in shares of GE HealthCare Technologies by 165.7% in the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares during the period. Ameriflex Group Inc. bought a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $31,000. Finally, Olde Wealth Management LLC bought a new position in GE HealthCare Technologies in the first quarter worth $35,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock traded down $0.03 during midday trading on Tuesday, hitting $74.74. 803,791 shares of the company's stock were exchanged, compared to its average volume of 3,944,296. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The stock has a 50-day moving average price of $74.54 and a two-hundred day moving average price of $73.02. 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 company has a market cap of $34.12 billion, a P/E ratio of 15.31, a PEG ratio of 2.86 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.15. The firm 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 company's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 EPS. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. On average, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, July 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is 2.87%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Citigroup raised 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. Zacks Research raised GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 28th. BTIG Research reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Wall Street Zen downgraded GE HealthCare Technologies from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Morgan Stanley set a $74.00 price objective on GE HealthCare Technologies in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.40.

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.