Eminence Capital LP Raises Stock Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• Eminence Capital LP increased its holdings in GE HealthCare Technologies by 38.7% during the first quarter, acquiring an additional 507,101 shares, totaling 1,819,129 shares in their portfolio.
• Several institutional investors, including JPMorgan Chase & Co. and GAMMA Investing LLC, have significantly increased their positions in GE HealthCare Technologies, highlighting a growing interest among major investors.
• Analysts have upgraded GE HealthCare Technologies with a consensus rating of "Moderate Buy" and a target price of $88.55, reflecting positive expectations for the company's future performance.

Eminence Capital LP lifted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 38.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,819,129 shares of the company's stock after buying an additional 507,101 shares during the quarter. GE HealthCare Technologies makes up approximately 2.4% of Eminence Capital LP's portfolio, making the stock its 21st biggest position. Eminence Capital LP owned 0.40% of GE HealthCare Technologies worth $146,822,000 at the end of the most recent reporting period.

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

GE HealthCare Technologies Stock Up 3.2%

GEHC traded up $2.43 on Monday, reaching $78.16. The company's stock had a trading volume of 6,233,528 shares, compared to its average volume of 3,967,709. The stock has a 50 day moving average of $74.28 and a two-hundred day moving average of $73.89. 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 company has a market capitalization of $35.68 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 2.89 and a beta of 1.13. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.15. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The company had revenue of $5 billion during the quarter, compared to analysts' expectations of $4.96 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. As a group, analysts forecast 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 was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were paid a $0.035 dividend. The ex-dividend date was Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies's payout ratio is currently 2.87%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup boosted their price objective on GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Morgan Stanley lowered their price objective on GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. BTIG Research reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Finally, Zacks Research raised GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Company 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.