Louisiana State Employees Retirement System lowered its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,700 shares of the company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in GE HealthCare Technologies were worth $4,274,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of GEHC. JPMorgan Chase & Co. grew its position in shares of GE HealthCare Technologies by 49.9% in the 1st quarter. JPMorgan Chase & Co. now owns 5,140,549 shares of the company’s stock worth $414,894,000 after buying an additional 1,711,963 shares during the last quarter. Nuveen LLC purchased a new position in shares of GE HealthCare Technologies in the 1st quarter worth approximately $77,058,000. Eminence Capital LP grew its position in shares of GE HealthCare Technologies by 38.7% in the 1st quarter. Eminence Capital LP now owns 1,819,129 shares of the company’s stock worth $146,822,000 after buying an additional 507,101 shares during the last quarter. Homestead Advisers Corp grew its position in shares of GE HealthCare Technologies by 92.7% in the 1st quarter. Homestead Advisers Corp now owns 988,600 shares of the company’s stock worth $79,790,000 after buying an additional 475,500 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of GE HealthCare Technologies by 15.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,111,398 shares of the company’s stock worth $251,121,000 after buying an additional 409,636 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.
Wall Street Analyst Weigh In
GEHC has been the topic of a number of analyst reports. Morgan Stanley set a $74.00 price objective on shares of GE HealthCare Technologies in a research report on Thursday, September 18th. Citigroup cut shares of GE HealthCare Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $93.00 to $83.00 in a research note on Tuesday. BTIG Research reiterated a “buy” rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. Wall Street Zen cut shares of GE HealthCare Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, September 20th. Finally, Zacks Research cut shares of GE HealthCare Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.78.
GE HealthCare Technologies Stock Up 0.9%
GEHC stock opened at $75.13 on Thursday. The firm’s fifty day simple moving average is $74.22 and its 200-day simple moving average is $72.47. The company has a market capitalization of $34.30 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 2.85 and a beta of 1.13. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. 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 released 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. The business had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 EPS. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. As a group, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, October 24th. GE HealthCare Technologies’s dividend payout ratio is 2.87%.
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.
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