Tandem Capital Management Corp ADV Buys 10,949 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• Tandem Capital Management Corp ADV increased its holdings in GE HealthCare Technologies Inc. by 39.2%, acquiring an additional 10,949 shares in the second quarter, bringing its total to 38,855 shares valued at approximately $2.88 million.
• GE HealthCare reported earnings per share of $1.06 for its last quarter, exceeding expectations, with revenue of $5 billion, showcasing a year-over-year growth of 3.5% compared to the previous year.
• The company announced a quarterly dividend of $0.035, with an ex-dividend date set for October 24th, translating to an annualized yield of 0.2%.

Tandem Capital Management Corp ADV boosted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 39.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,855 shares of the company's stock after purchasing an additional 10,949 shares during the quarter. GE HealthCare Technologies makes up approximately 1.5% of Tandem Capital Management Corp ADV's holdings, making the stock its 25th biggest position. Tandem Capital Management Corp ADV's holdings in GE HealthCare Technologies were worth $2,878,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GEHC. N.E.W. Advisory Services LLC bought a new position in GE HealthCare Technologies in the 1st quarter worth approximately $25,000. Bogart Wealth LLC boosted 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 worth $28,000 after purchasing an additional 247 shares during the period. Stonebridge Financial Group LLC boosted its stake in GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 222 shares during the period. Olde Wealth Management LLC bought a new position in GE HealthCare Technologies in the 1st quarter worth approximately $35,000. Finally, Zions Bancorporation National Association UT bought a new position in GE HealthCare Technologies in the 1st quarter worth approximately $42,000. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $75.13 on Thursday. The stock's fifty day moving average is $74.22 and its 200 day moving average is $72.47. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The firm has a market capitalization of $34.30 billion, a PE ratio of 15.40, a PEG ratio of 2.85 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 released its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $4.96 billion. During the same quarter in the prior year, the firm posted $1.00 EPS. GE HealthCare Technologies's quarterly 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. On average, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be paid a $0.035 dividend. The ex-dividend date is Friday, October 24th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.87%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley set a $74.00 price target on GE HealthCare Technologies in a research note on Thursday, September 18th. Citigroup cut GE HealthCare Technologies from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $93.00 to $83.00 in a report on Tuesday. Zacks Research cut GE HealthCare Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, September 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of GE HealthCare Technologies in a report on Saturday, September 27th. Finally, Wall Street Zen cut GE HealthCare Technologies from a "buy" rating to a "hold" rating in a report on Saturday, September 20th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $85.78.

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.

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