CMG Global Holdings LLC Invests $1.33 Million in GE HealthCare Technologies Inc. $GEHC

Key Points

• CMG Global Holdings LLC invested approximately $1.33 million in GE HealthCare Technologies Inc. by acquiring 17,098 shares during the second quarter.
• Institutional investors own 82.06% of GE HealthCare Technologies' stock, with significant increases in holdings from firms like Hotchkis & Wiley Capital Management LLC and JPMorgan Chase & Co. in recent quarters.
• Analysts have set a consensus target price of $85.20 for GE HealthCare Technologies, with ratings ranging from "buy" to "hold" by various research firms.

CMG Global Holdings LLC bought a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,098 shares of the company's stock, valued at approximately $1,329,000.

Several other hedge funds have also modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC boosted its position in shares of GE HealthCare Technologies by 3.2% in 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 last quarter. JPMorgan Chase & Co. boosted its position 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 acquiring an additional 1,711,963 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of GE HealthCare Technologies by 3.3% in 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 last quarter. Canada Pension Plan Investment Board boosted its position 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 acquiring an additional 409,636 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of GE HealthCare Technologies by 3.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,069,114 shares of the company's stock worth $247,708,000 after acquiring an additional 109,858 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on GEHC. Barclays initiated coverage on shares of GE HealthCare Technologies in a research report on Monday, October 13th. They issued an "equal weight" rating and a $86.00 target price on the stock. Citigroup cut shares of GE HealthCare Technologies from a "buy" rating to a "neutral" rating and reduced their price target for the company from $93.00 to $83.00 in a research report on Tuesday, October 7th. Morgan Stanley set a $74.00 price target on shares of GE HealthCare Technologies in a research report on Thursday, September 18th. Wall Street Zen cut shares of GE HealthCare Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, September 20th. Finally, Zacks Research cut shares of GE HealthCare Technologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $85.20.

GE HealthCare Technologies Trading Up 0.9%

GEHC opened at $74.05 on Monday. The firm has a market capitalization of $33.81 billion, a P/E ratio of 15.17, a P/E/G ratio of 2.83 and a beta of 1.13. The firm's 50 day moving average is $74.51 and its 200-day moving average is $72.03. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The company has a quick ratio of 0.93, a current ratio of 1.16 and a debt-to-equity ratio of 0.85.

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, beating analysts' consensus estimates of $0.91 by $0.15. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business's quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 earnings per share. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. Analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS 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. Stockholders of record on Friday, October 24th will be paid 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 dividend yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.87%.

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.

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