Dodge & Cox Has $1.34 Billion Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• Dodge & Cox reduced its stake in GE HealthCare Technologies by 0.5% to 16,585,509 shares, maintaining a position valued at approximately $1.34 billion.
• GE HealthCare Technologies reported earnings of $1.06 per share for the last quarter, exceeding analysts' expectations and achieving a revenue of $5 billion.
• The company has authorized a $1 billion share buyback program, indicating a belief that its shares are undervalued.

Dodge & Cox lessened its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,585,509 shares of the company's stock after selling 89,999 shares during the period. Dodge & Cox owned 3.62% of GE HealthCare Technologies worth $1,338,616,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MML Investors Services LLC grew its stake in GE HealthCare Technologies by 9.8% during the fourth quarter. MML Investors Services LLC now owns 24,899 shares of the company's stock worth $1,947,000 after purchasing an additional 2,215 shares during the period. Stifel Financial Corp lifted its holdings in shares of GE HealthCare Technologies by 12.8% in the fourth quarter. Stifel Financial Corp now owns 296,491 shares of the company's stock valued at $23,180,000 after purchasing an additional 33,567 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of GE HealthCare Technologies by 10.4% in the fourth quarter. Hsbc Holdings PLC now owns 882,280 shares of the company's stock valued at $69,022,000 after purchasing an additional 82,973 shares in the last quarter. Dark Forest Capital Management LP lifted its holdings in shares of GE HealthCare Technologies by 154.4% in the fourth quarter. Dark Forest Capital Management LP now owns 7,343 shares of the company's stock valued at $574,000 after purchasing an additional 4,457 shares in the last quarter. Finally, Syon Capital LLC lifted its holdings in shares of GE HealthCare Technologies by 16.1% in the fourth quarter. Syon Capital LLC now owns 3,172 shares of the company's stock valued at $248,000 after purchasing an additional 440 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $75.22 on Friday. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The firm's fifty day simple moving average is $74.00 and its 200 day simple moving average is $75.22. The company has a quick ratio of 0.93, a current ratio of 1.16 and a debt-to-equity ratio of 0.85. The stock has a market cap of $34.34 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 2.80 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.15. The firm had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The business's revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter 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. As a group, research analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its Board of Directors has approved a share buyback program on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GEHC. The Goldman Sachs Group dropped their price target 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. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Morgan Stanley dropped their price target on GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Citigroup lifted their price target on GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Wells Fargo & Company dropped their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.55.

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.

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