GE HealthCare Technologies Inc. $GEHC Shares Acquired by Sound Shore Management Inc. CT

Key Points

• Sound Shore Management increased its GE HealthCare stake by 17.2% in the first quarter, buying 174,853 more shares and bringing its total to 1,192,741 shares worth about $84.9 million.
• Several other institutional investors also made notable moves in GEHC, and the stock remains heavily institutionally owned at 82.06% of shares outstanding.
• GE HealthCare reported Q1 EPS of $0.99, below expectations, but revenue of $5.13 billion topped estimates and rose 7.4% year over year; analysts currently rate the stock a consensus Hold with a $76.41 target price.

Sound Shore Management Inc. CT boosted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 17.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,192,741 shares of the company's stock after buying an additional 174,853 shares during the period. GE HealthCare Technologies accounts for approximately 2.8% of Sound Shore Management Inc. CT's investment portfolio, making the stock its 9th largest holding. Sound Shore Management Inc. CT owned 0.26% of GE HealthCare Technologies worth $84,899,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Auto Owners Insurance Co increased its holdings in shares of GE HealthCare Technologies by 9,525.4% in the 4th quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company's stock worth $278,725,000 after acquiring an additional 33,629,559 shares during the period. Norges Bank bought a new position in GE HealthCare Technologies in the 4th quarter worth about $596,024,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $533,655,000. Cynosure Group LLC increased its position in GE HealthCare Technologies by 21,045.4% in the 4th quarter. Cynosure Group LLC now owns 4,365,462 shares of the company's stock valued at $358,055,000 after acquiring an additional 4,344,817 shares during the period. Finally, Boston Partners acquired a new position in shares of GE HealthCare Technologies during the third quarter valued at $287,627,000. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Jefferies Financial Group lowered their price objective on shares of GE HealthCare Technologies from $105.00 to $90.00 in a research note on Thursday, April 30th. BMO Capital Markets began coverage on shares of GE HealthCare Technologies in a research note on Wednesday, July 8th. They issued a "market perform" rating and a $70.00 price objective on the stock. Rothschild & Co Redburn dropped their target price on shares of GE HealthCare Technologies from $110.00 to $98.00 in a report on Thursday, April 30th. Argus cut their target price on shares of GE HealthCare Technologies from $95.00 to $80.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. Finally, BNP Paribas Exane reduced their target price on shares of GE HealthCare Technologies from $95.00 to $88.00 in a report on Friday, May 1st. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $76.41.

Insider Buying and Selling at GE HealthCare Technologies

In other news, Director Kevin Lobo purchased 10,000 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $64.18 per share, for a total transaction of $641,800.00. Following the completion of the acquisition, the director directly owned 14,363 shares of the company's stock, valued at $921,817.34. The trade was a 229.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Watkin Phoebe L. Yang purchased 1,000 shares of GE HealthCare Technologies stock in a transaction that occurred on Friday, May 8th. The stock was purchased at an average price of $63.01 per share, with a total value of $63,010.00. Following the transaction, the director owned 13,702 shares in the company, valued at $863,363.02. This represents a 7.87% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 21,847 shares of company stock valued at $1,361,355 over the last three months. 0.36% of the stock is owned by insiders.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $63.07 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.22 and a debt-to-equity ratio of 0.95. GE HealthCare Technologies Inc. has a 1-year low of $58.75 and a 1-year high of $89.77. The firm has a market capitalization of $28.69 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.72 and a beta of 0.72. The stock has a fifty day simple moving average of $63.64 and a 200 day simple moving average of $71.89.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.99 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.08). GE HealthCare Technologies had a return on equity of 20.46% and a net margin of 9.10%.The company had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.04 billion. During the same period in the prior year, the business posted $1.01 EPS. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. GE HealthCare Technologies has set its FY 2026 guidance at 4.800-5.000 EPS. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.89 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 24th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, July 24th. GE HealthCare Technologies's dividend payout ratio (DPR) is 3.35%.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies NASDAQ: GEHC is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.

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