Wedge Capital Management L L P NC Takes $26.86 Million Position in GE HealthCare Technologies Inc. $GEHC

Wedge Capital Management L L P NC bought a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 357,638 shares of the company’s stock, valued at approximately $26,859,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GEHC. Lineweaver Wealth Advisors LLC purchased a new position in shares of GE HealthCare Technologies during the 2nd quarter worth about $592,000. National Bank of Canada FI lifted its stake in GE HealthCare Technologies by 133.3% in the second quarter. National Bank of Canada FI now owns 899,693 shares of the company’s stock worth $66,640,000 after purchasing an additional 514,007 shares during the last quarter. Frontier Capital Management Co. LLC lifted its stake in GE HealthCare Technologies by 5.2% in the second quarter. Frontier Capital Management Co. LLC now owns 356,954 shares of the company’s stock worth $26,440,000 after purchasing an additional 17,603 shares during the last quarter. Guggenheim Capital LLC boosted its position in shares of GE HealthCare Technologies by 22.3% during the second quarter. Guggenheim Capital LLC now owns 131,985 shares of the company’s stock valued at $9,776,000 after buying an additional 24,087 shares during the period. Finally, Holocene Advisors LP grew its stake in shares of GE HealthCare Technologies by 178.5% during the second quarter. Holocene Advisors LP now owns 4,027,352 shares of the company’s stock valued at $298,306,000 after buying an additional 2,581,522 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GEHC. Wells Fargo & Company reduced their price target on GE HealthCare Technologies from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Evercore ISI upped their price objective on GE HealthCare Technologies from $88.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Jefferies Financial Group lifted their target price on GE HealthCare Technologies from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Morgan Stanley boosted their target price on shares of GE HealthCare Technologies from $74.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Finally, Citigroup raised their price target on shares of GE HealthCare Technologies from $83.00 to $88.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $87.09.

GE HealthCare Technologies Price Performance

GEHC opened at $82.89 on Friday. The company has a market capitalization of $37.76 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 3.46 and a beta of 1.10. The company has a current ratio of 1.18, a quick ratio of 0.95 and a debt-to-equity ratio of 0.83. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The business’s fifty day simple moving average is $77.69 and its 200-day simple moving average is $75.42.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.02. GE HealthCare Technologies had a return on equity of 22.52% and a net margin of 10.94%.The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. GE HealthCare Technologies has set its FY 2025 guidance at 4.510-4.630 EPS. On average, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 9th will be given 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, January 9th. GE HealthCare Technologies’s dividend payout ratio is presently 2.89%.

About GE HealthCare Technologies

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.