GE HealthCare Technologies Inc. $GEHC Stock Position Boosted by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in GE HealthCare Technologies by 8.9% in the first quarter, bringing its total holdings to 62,719 shares valued at approximately $5.06 million.
• Several analysts have recently adjusted their target prices for GE HealthCare, with Morgan Stanley lowering it from $78 to $74, but the stock maintains a consensus rating of "Moderate Buy".
• GE HealthCare Technologies announced a quarterly dividend of $0.035 per share and has initiated a stock buyback program worth $1.00 billion, indicating a belief that its stock is undervalued.

Public Sector Pension Investment Board boosted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 8.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,719 shares of the company's stock after buying an additional 5,115 shares during the period. Public Sector Pension Investment Board's holdings in GE HealthCare Technologies were worth $5,062,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mariner LLC raised its holdings in GE HealthCare Technologies by 1.2% in the 4th quarter. Mariner LLC now owns 78,747 shares of the company's stock worth $6,156,000 after acquiring an additional 917 shares during the last quarter. Jump Financial LLC raised its holdings in GE HealthCare Technologies by 15.3% in the 4th quarter. Jump Financial LLC now owns 8,740 shares of the company's stock worth $683,000 after acquiring an additional 1,163 shares during the last quarter. NewEdge Advisors LLC raised its holdings in GE HealthCare Technologies by 4.2% in the 4th quarter. NewEdge Advisors LLC now owns 17,907 shares of the company's stock worth $1,400,000 after acquiring an additional 715 shares during the last quarter. Marshall Wace LLP raised its holdings in GE HealthCare Technologies by 22.5% in the 4th quarter. Marshall Wace LLP now owns 240,713 shares of the company's stock worth $18,819,000 after acquiring an additional 44,180 shares during the last quarter. Finally, Commerce Bank raised its holdings in GE HealthCare Technologies by 184.7% in the 4th quarter. Commerce Bank now owns 53,555 shares of the company's stock worth $4,187,000 after acquiring an additional 34,745 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GEHC. Evercore ISI decreased 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. Morgan Stanley decreased their target price on shares of 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. Citigroup boosted their price objective on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Wells Fargo & Company cut their price objective on shares of 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. Finally, UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their price objective for the company from $74.00 to $73.00 in a research report 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 company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.55.

GE HealthCare Technologies Stock Up 2.7%

Shares of NASDAQ GEHC traded up $1.9650 during mid-day trading on Friday, reaching $75.1150. The company had a trading volume of 1,135,320 shares, compared to its average volume of 4,012,363. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. The firm has a 50 day simple moving average of $73.95 and a two-hundred day simple moving average of $75.30. The stock has a market cap of $34.29 billion, a P/E ratio of 15.41, a PEG ratio of 2.82 and a beta of 1.13. 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 issued its quarterly earnings data 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 company had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same period last year, the firm posted $1.00 EPS. GE HealthCare Technologies'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. Sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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

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

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.