Dimensional Fund Advisors LP Has $398.98 Million Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• Dimensional Fund Advisors LP increased its stake in GE HealthCare Technologies by 3.3%, acquiring a total of 4,943,579 shares valued at approximately $398.98 million.
• GE HealthCare Technologies reported quarterly earnings of $1.06 per share, surpassing analysts' expectations of $0.91, with revenues of $5 billion, marking a 3.5% year-over-year increase.
• The company has initiated a stock buyback plan worth $1 billion, indicating management's belief that the stock is undervalued, in addition to declaring a modest quarterly dividend.

Dimensional Fund Advisors LP lifted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,943,579 shares of the company's stock after purchasing an additional 157,839 shares during the quarter. Dimensional Fund Advisors LP owned 1.08% of GE HealthCare Technologies worth $398,975,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of GEHC. Capital Research Global Investors grew its position in GE HealthCare Technologies by 4.5% in the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock valued at $4,755,851,000 after buying an additional 2,608,066 shares in the last quarter. JPMorgan Chase & Co. grew its position in GE HealthCare Technologies by 49.9% in the 1st quarter. JPMorgan Chase & Co. now owns 5,140,549 shares of the company's stock valued at $414,894,000 after buying an additional 1,711,963 shares in the last quarter. Eminence Capital LP bought a new position in GE HealthCare Technologies in the 4th quarter valued at about $102,574,000. BNP Paribas Financial Markets bought a new position in GE HealthCare Technologies in the 4th quarter valued at about $76,093,000. Finally, Nuveen LLC bought a new position in GE HealthCare Technologies in the 1st quarter valued at about $77,058,000. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Citigroup boosted their price target on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Wells Fargo & Company lowered their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Evercore ISI cut their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price objective for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.55.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded down $0.1390 during trading hours on Thursday, reaching $73.7310. 380,166 shares of the company traded hands, compared to its average volume of 4,017,104. The stock's fifty day moving average is $73.94 and its 200 day moving average is $75.40. 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 stock has a market cap of $33.66 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 2.83 and a beta of 1.13. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping 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 company had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.96 billion. During the same period last year, the firm earned $1.00 EPS. The firm's revenue for the quarter 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. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

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

GE HealthCare Technologies announced that its board has authorized a stock buyback program on Wednesday, April 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

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.