Strs Ohio Makes New $30 Million Investment in GE HealthCare Technologies Inc. $GEHC

Key Points

• Strs Ohio has acquired a new stake in GE HealthCare Technologies, purchasing 371,709 shares valued at approximately $30 million, representing 0.08% ownership.
• GE HealthCare Technologies reported earnings of $1.06 per share for the last quarter, exceeding expectations of $0.91, and had a revenue of $5 billion.
• Analysts have mixed opinions on GE HealthCare, with Zacks upgrading it to a "strong-buy" and Morgan Stanley lowering its price target from $78 to $74, reflecting a consensus of cautious optimism.

Strs Ohio bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 371,709 shares of the company's stock, valued at approximately $30,001,000. Strs Ohio owned 0.08% of GE HealthCare Technologies as of its most recent SEC filing.

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

GE HealthCare Technologies Trading Up 0.6%

Shares of GE HealthCare Technologies stock traded up $0.48 during trading hours on Wednesday, hitting $77.96. The company's stock had a trading volume of 742,811 shares, compared to its average volume of 3,941,562. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The firm has a fifty day moving average of $74.56 and a 200-day moving average of $73.39. The stock has a market cap of $35.60 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 2.97 and a beta of 1.13. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.91 by $0.15. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The company's quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.00 EPS. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. Research 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. Investors of record on Friday, July 25th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, July 25th. GE HealthCare Technologies's payout ratio is currently 2.87%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Morgan Stanley cut 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 report on Thursday, July 31st. Zacks Research upgraded GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Finally, Citigroup boosted their price objective on GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $88.40.

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.