Okabena Investment Services Inc. Takes $1.12 Million Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• Okabena Investment Services Inc. acquired a new stake in GE HealthCare Technologies, purchasing 13,883 shares valued at about $1.1 million.
• Several institutional investors have also increased their positions in GE HealthCare, which now has 82.06% of its stock held by institutional investors.
• Analysts have recently revised their price targets for GE HealthCare Technologies, with Goldman Sachs lowering their target from $94 to $82 while maintaining a "buy" rating.

Okabena Investment Services Inc. bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,883 shares of the company's stock, valued at approximately $1,121,000.

Several other hedge funds have also recently made changes to their positions in the company. LGT Financial Advisors LLC grew its position in shares of GE HealthCare Technologies by 46.2% in the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after purchasing an additional 123 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in GE HealthCare Technologies by 0.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 17,173 shares of the company's stock worth $1,343,000 after buying an additional 126 shares in the last quarter. Knuff & Co LLC grew its position in GE HealthCare Technologies by 1.5% during the first quarter. Knuff & Co LLC now owns 10,276 shares of the company's stock worth $829,000 after buying an additional 150 shares in the last quarter. Graypoint LLC grew its position in GE HealthCare Technologies by 5.7% during the first quarter. Graypoint LLC now owns 3,028 shares of the company's stock worth $244,000 after buying an additional 162 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. grew its position in GE HealthCare Technologies by 3.2% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 5,336 shares of the company's stock worth $431,000 after buying an additional 166 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GEHC has been the subject of several recent analyst reports. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Zacks Research upgraded GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 28th. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $74.00 to $73.00 in a research note on Monday, May 5th. Citigroup upped their target price on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley decreased 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. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $88.55.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC traded down $2.48 during mid-day trading on Tuesday, reaching $71.25. The company's stock had a trading volume of 1,361,916 shares, compared to its average volume of 3,954,356. The firm has a market capitalization of $32.53 billion, a PE ratio of 14.60, a P/E/G ratio of 2.82 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 has a fifty day moving average of $74.28 and a two-hundred day moving average of $74.42. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results 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 company had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the previous year, the business earned $1.00 earnings per share. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. As a group, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 is 2.87%.

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.