Kovitz Investment Group Partners LLC Has $5.95 Million Stock Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• Kovitz Investment Group Partners LLC significantly increased its holdings in GE HealthCare Technologies by 1,114.7% in the first quarter, acquiring 67,660 additional shares, bringing its total to 73,730 shares valued at $5.95 million.
• Several institutional investors, including LGT Financial Advisors LLC and Integrated Wealth Concepts LLC, have also raised their positions in GE HealthCare Technologies, indicating strong interest among institutional investors in the company.
• The company reported earnings of $1.06 per share for the last quarter, exceeding analyst estimates, with revenue reaching $5 billion and a 3.5% increase compared to the previous year.

Kovitz Investment Group Partners LLC boosted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1,114.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,730 shares of the company's stock after purchasing an additional 67,660 shares during the period. Kovitz Investment Group Partners LLC's holdings in GE HealthCare Technologies were worth $5,951,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. N.E.W. Advisory Services LLC acquired a new stake in GE HealthCare Technologies in the first quarter valued at about $25,000. Bogart Wealth LLC lifted its stake in GE HealthCare Technologies by 260.0% in the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after purchasing an additional 247 shares during the last quarter. Stonebridge Financial Group LLC boosted its position in GE HealthCare Technologies by 165.7% in the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after buying an additional 222 shares in the last quarter. LGT Financial Advisors LLC grew its stake in shares of GE HealthCare Technologies by 46.2% during the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after buying an additional 123 shares during the last quarter. Finally, Accredited Wealth Management LLC bought a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $30,000. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Trading Down 1.1%

GEHC stock traded down $0.8210 during trading on Thursday, hitting $73.0490. The company had a trading volume of 973,871 shares, compared to its average volume of 4,020,136. The stock has a market cap of $33.35 billion, a PE ratio of 14.97, a PEG ratio of 2.83 and a beta of 1.13. The business has a 50-day moving average of $73.94 and a 200-day moving average of $75.40. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.15. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The firm had revenue of $5 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same quarter last year, the business earned $1.00 EPS. The company'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. Research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies announced that its Board of Directors has authorized a share buyback program on Wednesday, April 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, July 25th. GE HealthCare Technologies's payout ratio is currently 2.87%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Citigroup increased their price target on GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Wells Fargo & Company dropped their target price on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 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 note on Thursday, July 31st. Finally, Evercore ISI dropped their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.