Tandem Capital Management Corp ADV Purchases 10,949 Shares of GE HealthCare Technologies Inc. $GEHC

Tandem Capital Management Corp ADV boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 39.2% during the second quarter, Holdings Channel.com reports. The firm owned 38,855 shares of the company’s stock after purchasing an additional 10,949 shares during the quarter. GE HealthCare Technologies makes up about 1.5% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 25th biggest position. Tandem Capital Management Corp ADV’s holdings in GE HealthCare Technologies were worth $2,878,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GEHC. JPMorgan Chase & Co. boosted its stake in shares of GE HealthCare Technologies by 49.9% in the first 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 acquired a new position in GE HealthCare Technologies during the first quarter worth $77,058,000. Eminence Capital LP boosted its stake in GE HealthCare Technologies by 38.7% during the first 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 boosted its stake in GE HealthCare Technologies by 92.7% during the first 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 position in GE HealthCare Technologies by 15.2% in 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 period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on GEHC. Citigroup downgraded GE HealthCare Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $93.00 to $83.00 in a research note on Tuesday. Morgan Stanley set a $74.00 price objective on GE HealthCare Technologies in a research note on Thursday, September 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE HealthCare Technologies in a research note on Saturday, September 27th. BTIG Research reaffirmed a “buy” rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. Finally, Wall Street Zen downgraded GE HealthCare Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, September 20th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $85.78.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $75.13 on Thursday. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a market capitalization of $34.30 billion, a P/E ratio of 15.40, a PEG ratio of 2.85 and a beta of 1.13. The business has a 50 day moving average price of $74.22 and a 200 day moving average price of $72.47. 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 (NASDAQ:GEHC) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. GE HealthCare Technologies’s quarterly revenue 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. Sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, October 24th. GE HealthCare Technologies’s payout ratio is presently 2.87%.

GE HealthCare Technologies 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.