Wright Investors Service Inc. Boosts Stock Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• Wright Investors Service Inc. increased its stake in GE HealthCare Technologies by 105.3%, owning 25,445 shares valued at approximately $1.885 million as of the end of the second quarter.
• Brokerages are mixed on GE HealthCare Technologies, with Wall Street Zen downgrading the stock to a "hold" rating, while Citigroup raised its price target from $89 to $93 and maintained a "buy" rating.
• GE HealthCare reported an EPS of $1.06 for the quarter, exceeding estimates, with revenue reaching $5 billion, marking a 3.5% year-over-year growth.

Wright Investors Service Inc. raised its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 105.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,445 shares of the company's stock after purchasing an additional 13,053 shares during the quarter. Wright Investors Service Inc.'s holdings in GE HealthCare Technologies were worth $1,885,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC lifted its position in GE HealthCare Technologies by 3.2% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,751,773 shares of the company's stock valued at $464,226,000 after purchasing an additional 176,572 shares during the last quarter. JPMorgan Chase & Co. lifted its position in 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 during the last quarter. Dimensional Fund Advisors LP lifted its position in GE HealthCare Technologies by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,943,579 shares of the company's stock valued at $398,975,000 after purchasing an additional 157,839 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in GE HealthCare Technologies by 15.2% during the first quarter. Canada Pension Plan Investment Board now owns 3,111,398 shares of the company's stock valued at $251,121,000 after purchasing an additional 409,636 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in GE HealthCare Technologies by 3.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,069,114 shares of the company's stock valued at $247,708,000 after purchasing an additional 109,858 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Trading Down 0.0%

GEHC traded down $0.01 on Tuesday, reaching $74.76. 1,272,919 shares of the company traded hands, compared to its average volume of 3,947,100. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80. The firm has a fifty day simple moving average of $74.54 and a two-hundred day simple moving average of $73.02. The company has a market cap of $34.13 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 2.86 and a beta of 1.13. 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 (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating 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 company had revenue of $5 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same quarter last year, the business posted $1.00 EPS. The firm'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. As a group, equities research analysts expect 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 was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were given a dividend of $0.035 per share. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of GE HealthCare Technologies from a "buy" rating to a "hold" rating in a report on Saturday. BTIG Research restated a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Zacks Research upgraded shares of GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 28th. Morgan Stanley set a $74.00 target price on shares of GE HealthCare Technologies in a report on Thursday, September 18th. Finally, Citigroup raised their target price on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a 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.com, GE HealthCare Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $88.40.

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.