Kingdon Capital Management L.L.C. Takes Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• Kingdon Capital Management has invested approximately $7.87 million in GE HealthCare Technologies, acquiring 97,500 shares in the first quarter.
• GE HealthCare Technologies reported $1.06 EPS for the last quarter, exceeding analyst estimates, and generated $5 billion in revenue.
• The company recently announced a quarterly dividend of $0.035 per share, reflecting a 0.2% yield and a payout ratio of 2.87%.

Kingdon Capital Management L.L.C. acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 97,500 shares of the company's stock, valued at approximately $7,869,000.

Other hedge funds have also recently made changes to their positions in the company. Breakwater Capital Group purchased a new position in shares of GE HealthCare Technologies during the 1st quarter valued at $210,000. Bessemer Group Inc. grew its position in shares of GE HealthCare Technologies by 24.3% during the 1st quarter. Bessemer Group Inc. now owns 6,671 shares of the company's stock valued at $538,000 after purchasing an additional 1,306 shares in the last quarter. Flagship Harbor Advisors LLC grew its position in shares of GE HealthCare Technologies by 17.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company's stock valued at $278,000 after purchasing an additional 511 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of GE HealthCare Technologies by 23.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company's stock valued at $4,105,000 after purchasing an additional 9,769 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of GE HealthCare Technologies by 52.7% during the 1st quarter. Farther Finance Advisors LLC now owns 4,493 shares of the company's stock valued at $357,000 after purchasing an additional 1,550 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

GE HealthCare Technologies Trading Up 1.1%

GE HealthCare Technologies stock traded up $0.78 during mid-day trading on Wednesday, hitting $72.38. The company's stock had a trading volume of 3,543,903 shares, compared to its average volume of 3,968,316. 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 has a market cap of $33.05 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 2.82 and a beta of 1.13. The business has a 50 day moving average price of $74.27 and a 200-day moving average price of $74.40. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.15. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 earnings per share. 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 year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were paid 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 2.87%.

GE HealthCare Technologies 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.