204,130 Shares in GE HealthCare Technologies Inc. $GEHC Bought by Vestal Point Capital LP

Key Points

• Vestal Point Capital LP has made a significant new investment of approximately $16.48 million in GE HealthCare Technologies, acquiring 204,130 shares in the first quarter.
• Analysts have generally upgraded their ratings on GE HealthCare Technologies, with Zacks Research moving from a "hold" to a "strong-buy" rating and Citigroup raising the target price from $89 to $93.
• GE HealthCare Technologies recently reported a net margin of 11.22% and a quarterly earnings per share (EPS) of $1.06, exceeding expectations by $0.15.

Vestal Point Capital LP bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 204,130 shares of the company's stock, valued at approximately $16,475,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Federation des caisses Desjardins du Quebec grew its position in GE HealthCare Technologies by 20.6% during the first quarter. Federation des caisses Desjardins du Quebec now owns 20,241 shares of the company's stock worth $1,634,000 after buying an additional 3,456 shares during the period. EP Wealth Advisors LLC increased its stake in GE HealthCare Technologies by 90.3% in the 1st quarter. EP Wealth Advisors LLC now owns 15,542 shares of the company's stock valued at $1,254,000 after purchasing an additional 7,377 shares in the last quarter. Paloma Partners Management Co acquired a new position in GE HealthCare Technologies during the first quarter worth $299,000. Beck Mack & Oliver LLC purchased a new position in shares of GE HealthCare Technologies in the first quarter valued at $206,000. Finally, Alamea Verwaltungs GmbH acquired a new position in shares of GE HealthCare Technologies during the 1st quarter worth $497,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

GEHC has been the subject of several recent research reports. Wall Street Zen upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Zacks Research raised shares of GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 28th. BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Citigroup boosted their price target on GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, Morgan Stanley decreased their price objective on GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $88.55.

GE HealthCare Technologies Trading Up 2.2%

Shares of NASDAQ GEHC traded up $1.61 during midday trading on Friday, hitting $75.73. The stock had a trading volume of 3,009,491 shares, compared to its average volume of 2,651,304. The company has a quick ratio of 0.93, a current ratio of 1.16 and a debt-to-equity ratio of 0.85. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a market capitalization of $34.58 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 2.83 and a beta of 1.13. The company has a fifty day moving average price of $74.28 and a 200 day moving average price of $74.14.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $4.96 billion. During the same quarter in the prior year, the company earned $1.00 EPS. The company's revenue 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. On average, analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently declared 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 yield of 0.2%. The ex-dividend date was Friday, July 25th. GE HealthCare Technologies's dividend payout ratio is currently 2.87%.

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.