Amundi Increases Stake in GE HealthCare Technologies Inc. $GEHC

Key Points

• Amundi increased its holdings in GE HealthCare Technologies Inc. by 13.7%, acquiring an additional 235,834 shares, bringing its total ownership to approximately 1,962,736 shares valued at $158.4 million.
• GE HealthCare reported a Q2 earnings per share (EPS) of $1.06, surpassing the consensus estimate of $0.91, alongside a year-over-year revenue increase of 3.5% to $5 billion.
• The company recently announced a quarterly dividend of $0.035 per share, reflecting an annualized yield of 0.2%, while institutional investors hold about 82.06% of the company's stock.

Amundi raised its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 13.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,962,736 shares of the company's stock after acquiring an additional 235,834 shares during the quarter. Amundi owned approximately 0.43% of GE HealthCare Technologies worth $158,412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC purchased a new position in GE HealthCare Technologies in the first quarter valued at approximately $25,000. Bogart Wealth LLC lifted its holdings in GE HealthCare Technologies by 260.0% during the first quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after purchasing an additional 247 shares during the last quarter. Stonebridge Financial Group LLC lifted its stake in shares of GE HealthCare Technologies by 165.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after buying an additional 222 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at approximately $31,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of GE HealthCare Technologies during the first quarter worth $35,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GEHC. Morgan Stanley dropped their target price on GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Citigroup increased their price target 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. Finally, Zacks Research upgraded shares of GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.40.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock traded down $1.37 on Wednesday, hitting $77.34. 1,206,189 shares of the company traded hands, compared to its average volume of 3,950,953. The company has a market cap of $35.31 billion, a P/E ratio of 15.85, a P/E/G ratio of 2.99 and a beta of 1.13. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The firm's 50-day simple moving average is $74.42 and its 200 day simple moving average is $73.83.

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. The company had revenue of $5 billion for the quarter, compared to analysts' expectations of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.GE HealthCare Technologies's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $1.00 EPS. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. Analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were issued a $0.035 dividend. The ex-dividend date was Friday, July 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. GE HealthCare Technologies's payout ratio is currently 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.