Hotchkis & Wiley Capital Management LLC Boosts Stake in GE HealthCare Technologies Inc. $GEHC

Key Points

• Hotchkis & Wiley Capital Management LLC increased its holdings in GE HealthCare Technologies by 3.2%, acquiring an additional 176,572 shares, which now makes up 1.6% of their portfolio.
• GE HealthCare Technologies reported $1.06 earnings per share (EPS) for the last quarter, surpassing estimates, and achieved a revenue of $5 billion, higher than expected.
• The company has initiated a $1.00 billion stock repurchase program, indicating confidence in its share value and a commitment to returning capital to shareholders.

Hotchkis & Wiley Capital Management LLC raised its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,751,773 shares of the company's stock after purchasing an additional 176,572 shares during the period. GE HealthCare Technologies comprises 1.6% of Hotchkis & Wiley Capital Management LLC's holdings, making the stock its 20th largest position. Hotchkis & Wiley Capital Management LLC owned about 1.26% of GE HealthCare Technologies worth $464,226,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GEHC. JPMorgan Chase & Co. grew its holdings in GE HealthCare Technologies by 49.9% in the first quarter. JPMorgan Chase & Co. now owns 5,140,549 shares of the company's stock valued at $414,894,000 after purchasing an additional 1,711,963 shares during the period. Eminence Capital LP acquired a new stake in GE HealthCare Technologies in the fourth quarter valued at approximately $102,574,000. BNP Paribas Financial Markets acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter worth approximately $76,093,000. Nuveen LLC acquired a new stake in shares of GE HealthCare Technologies in the first quarter worth approximately $77,058,000. Finally, GAMMA Investing LLC boosted its stake in shares of GE HealthCare Technologies by 9,524.6% in the first quarter. GAMMA Investing LLC now owns 771,507 shares of the company's stock worth $62,268,000 after acquiring an additional 763,491 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Trading Up 0.2%

GE HealthCare Technologies stock traded up $0.17 during trading on Wednesday, reaching $74.26. 2,060,672 shares of the company were exchanged, compared to its average volume of 3,991,237. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The company has a market capitalization of $33.90 billion, a P/E ratio of 15.22, a PEG ratio of 2.85 and a beta of 1.13. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. The stock's 50 day simple moving average is $74.10 and its two-hundred day simple moving average is $74.95.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced 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 return on equity of 23.93% and a net margin of 11.22%.The firm had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter last year, the business posted $1.00 earnings per share. The firm's revenue 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. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies announced that its board has approved a share buyback plan on Wednesday, April 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were given a dividend of $0.035 per share. 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 dividend payout ratio (DPR) is presently 2.87%.

Analysts Set New Price Targets

GEHC has been the topic of a number of research analyst reports. Morgan Stanley lowered their price target on GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating on the stock 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. Evercore ISI lowered their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group lowered their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.