Geode Capital Management LLC Grows Stock Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• Geode Capital Management increased its GE HealthCare stake by 0.3% in the fourth quarter, buying 37,159 more shares and lifting its position to 12.1 million shares worth about $989.7 million.
• Several other hedge funds and institutional investors also added to their holdings, and institutions now own about 82.06% of GE HealthCare shares.
• GE HealthCare’s latest quarter showed mixed results: revenue rose 7.4% year over year to $5.13 billion, but EPS of $0.99 missed expectations. Analysts still rate the stock a Moderate Buy with an average price target of $80.21.

Geode Capital Management LLC increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,112,503 shares of the company's stock after purchasing an additional 37,159 shares during the period. Geode Capital Management LLC owned approximately 2.66% of GE HealthCare Technologies worth $989,673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Western Wealth Management LLC raised its holdings in shares of GE HealthCare Technologies by 2.4% during the fourth quarter. Western Wealth Management LLC now owns 5,240 shares of the company's stock valued at $430,000 after purchasing an additional 125 shares during the last quarter. United Community Bank raised its holdings in shares of GE HealthCare Technologies by 10.2% during the fourth quarter. United Community Bank now owns 1,410 shares of the company's stock valued at $116,000 after purchasing an additional 130 shares during the last quarter. Thoma Capital Management LLC raised its holdings in shares of GE HealthCare Technologies by 1.4% during the fourth quarter. Thoma Capital Management LLC now owns 9,918 shares of the company's stock valued at $814,000 after purchasing an additional 136 shares during the last quarter. Colonial Trust Advisors raised its holdings in shares of GE HealthCare Technologies by 11.1% during the third quarter. Colonial Trust Advisors now owns 1,391 shares of the company's stock valued at $104,000 after purchasing an additional 139 shares during the last quarter. Finally, Norinchukin Bank The raised its holdings in shares of GE HealthCare Technologies by 0.4% during the third quarter. Norinchukin Bank The now owns 38,913 shares of the company's stock valued at $2,922,000 after purchasing an additional 149 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GEHC shares. Evercore set a $80.00 price objective on shares of GE HealthCare Technologies in a report on Thursday, April 30th. JPMorgan Chase & Co. reduced their target price on shares of GE HealthCare Technologies from $80.00 to $65.00 and set a "neutral" rating for the company in a report on Thursday, April 30th. Piper Sandler decreased their price target on shares of GE HealthCare Technologies from $88.00 to $74.00 in a research report on Thursday, April 30th. Morgan Stanley increased their price target on shares of GE HealthCare Technologies from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 4th. Finally, Citigroup decreased their price target on shares of GE HealthCare Technologies from $80.00 to $65.00 and set a "neutral" rating on the stock in a research report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, GE HealthCare Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $80.21.

Insider Transactions at GE HealthCare Technologies

In other news, Director Watkin Phoebe L. Yang acquired 1,000 shares of GE HealthCare Technologies stock in a transaction dated Friday, May 8th. The stock was purchased at an average cost of $63.01 per share, with a total value of $63,010.00. Following the completion of the purchase, the director directly owned 13,702 shares in the company, valued at approximately $863,363.02. This trade represents a 7.87% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Saccaro acquired 3,310 shares of GE HealthCare Technologies stock in a transaction dated Friday, May 1st. The stock was purchased at an average cost of $60.60 per share, with a total value of $200,586.00. Following the completion of the purchase, the chief financial officer owned 87,471 shares of the company's stock, valued at approximately $5,300,742.60. This represents a 3.93% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 21,847 shares of company stock valued at $1,361,355. Company insiders own 0.36% of the company's stock.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $62.34 on Friday. The firm has a fifty day moving average price of $67.68 and a 200-day moving average price of $75.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.22 and a quick ratio of 0.95. The stock has a market cap of $28.36 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. GE HealthCare Technologies Inc. has a 1 year low of $58.75 and a 1 year high of $89.77.

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

GE HealthCare Technologies 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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