Geode Capital Management LLC Increases Stock Holdings in GE HealthCare Technologies Inc. $GEHC

Geode Capital Management LLC boosted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,944,407 shares of the company’s stock after acquiring an additional 231,302 shares during the period. Geode Capital Management LLC owned 2.62% of GE HealthCare Technologies worth $881,060,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in 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 acquiring an additional 1,711,963 shares during the last quarter. Nuveen LLC purchased a new stake in GE HealthCare Technologies during the first quarter valued at about $77,058,000. Eminence Capital LP increased its position in shares of GE HealthCare Technologies by 38.7% during the 1st quarter. Eminence Capital LP now owns 1,819,129 shares of the company’s stock valued at $146,822,000 after purchasing an additional 507,101 shares during the last quarter. Homestead Advisers Corp lifted its position in 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 raised its stake in shares of 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 worth $251,121,000 after acquiring an additional 409,636 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GEHC. Zacks Research lowered shares of GE HealthCare Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Evercore ISI lifted their price objective on GE HealthCare Technologies from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Citigroup cut GE HealthCare Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the company from $93.00 to $83.00 in a report on Tuesday, October 7th. BTIG Research set a $87.00 price objective on GE HealthCare Technologies in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of GE HealthCare Technologies in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $86.10.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock opened at $73.97 on Friday. The business has a 50 day moving average of $75.20 and a 200 day moving average of $73.65. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The company has a market cap of $33.69 billion, a PE ratio of 15.28, a P/E/G ratio of 2.82 and a beta of 1.13. The company has a quick ratio of 0.95, a current ratio of 1.18 and a debt-to-equity ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.02. The business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.07 billion. GE HealthCare Technologies had a net margin of 10.94% and a return on equity of 22.52%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 EPS. GE HealthCare Technologies has set its FY 2025 guidance at 4.510-4.630 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, October 24th. GE HealthCare Technologies’s payout ratio is presently 2.89%.

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.