Vestmark Advisory Solutions Inc. Takes $474,000 Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• Vestmark Advisory Solutions Inc. acquired 5,878 shares of GE HealthCare Technologies in the first quarter, valued at around $474,000.
• GE HealthCare reported a quarterly earnings per share of $1.06, exceeding analyst estimates by $0.15, with revenues of $5 billion, marking a 3.5% year-over-year increase.
• The company also initiated a $1 billion share repurchase program, indicating that it believes its shares are currently undervalued.

Vestmark Advisory Solutions Inc. purchased a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,878 shares of the company's stock, valued at approximately $474,000.

A number of other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of GE HealthCare Technologies by 49.9% during the first quarter. JPMorgan Chase & Co. now owns 5,140,549 shares of the company's stock valued at $414,894,000 after purchasing an additional 1,711,963 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of GE HealthCare Technologies by 14.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,785,740 shares of the company's stock valued at $374,162,000 after purchasing an additional 596,486 shares in the last quarter. Northern Trust Corp grew its position in shares of GE HealthCare Technologies by 13.6% during the fourth quarter. Northern Trust Corp now owns 4,631,875 shares of the company's stock valued at $362,120,000 after purchasing an additional 555,816 shares in the last quarter. D1 Capital Partners L.P. grew its position in shares of GE HealthCare Technologies by 22.0% during the fourth quarter. D1 Capital Partners L.P. now owns 3,486,584 shares of the company's stock valued at $272,581,000 after purchasing an additional 629,270 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of GE HealthCare Technologies by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,096 shares of the company's stock valued at $259,956,000 after purchasing an additional 416,386 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citigroup lifted their price target on GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Wells Fargo & Company dropped their price target on 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. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their price target for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. Morgan Stanley dropped their price target 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. Finally, Evercore ISI dropped their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Stock Up 3.1%

GE HealthCare Technologies stock traded up $2.2960 during mid-day trading on Friday, reaching $75.4460. 2,030,336 shares of the company were exchanged, compared to its average volume of 4,018,455. The business has a fifty day moving average of $73.95 and a 200 day moving average of $75.30. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16. The firm has a market cap of $34.45 billion, a P/E ratio of 15.47, a PEG ratio of 2.82 and a beta of 1.13. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month 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 EPS 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 firm had revenue of $5 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same quarter in the prior year, the business posted $1.00 EPS. The business's revenue for the quarter 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. Research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were paid a $0.035 dividend. 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 (DPR) is 2.87%.

GE HealthCare Technologies declared that its board has authorized a share buyback plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

About GE HealthCare Technologies

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.