BDF Gestion Makes New Investment in GE HealthCare Technologies Inc. $GEHC

Key Points

• BDF Gestion acquired 22,825 shares of GE HealthCare Technologies in the third quarter, valued at approximately $1.49 million. Institutional investors and hedge funds collectively own 82.06% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $78.35, compared with the stock’s recent price of $69.42.
• GE HealthCare exceeded quarterly earnings and revenue expectations, reporting $1.13 in EPS on $5.29 billion in revenue. The company also raised its quarterly dividend to $0.04 per share, representing a 0.2% annualized yield.

BDF Gestion bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,825 shares of the company's stock, valued at approximately $1,492,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Banque Cantonale Vaudoise increased its position in GE HealthCare Technologies by 16,539.1% during the first quarter. Banque Cantonale Vaudoise now owns 25,957 shares of the company's stock worth $1,849,000 after purchasing an additional 25,801 shares during the last quarter. Northside Capital Management LLC raised its stake in GE HealthCare Technologies by 26.5% during the second quarter. Northside Capital Management LLC now owns 241,923 shares of the company's stock worth $15,485,000 after purchasing an additional 50,634 shares during the period. Hsbc Holdings PLC raised its stake in GE HealthCare Technologies by 22.8% during the second quarter. Hsbc Holdings PLC now owns 1,004,490 shares of the company's stock worth $64,217,000 after purchasing an additional 186,800 shares during the period. Trian Fund Management L.P. boosted its holdings in GE HealthCare Technologies by 76,194.4% in the 2nd quarter. Trian Fund Management L.P. now owns 3,085,344 shares of the company's stock valued at $197,493,000 after purchasing an additional 3,081,300 shares during the last quarter. Finally, National Pension Service boosted its holdings in GE HealthCare Technologies by 13.1% in the 2nd quarter. National Pension Service now owns 862,154 shares of the company's stock valued at $55,186,000 after purchasing an additional 99,696 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GEHC. Weiss Ratings raised shares of GE HealthCare Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, October 6th. Zacks Research raised shares of GE HealthCare Technologies from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Hovde Group assumed coverage on GE HealthCare Technologies in a report on Friday, July 17th. They issued a "market perform" rating and a $14.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $93.00 price objective on shares of GE HealthCare Technologies in a report on Monday, October 5th. Finally, BMO Capital Markets started coverage on GE HealthCare Technologies in a research report on Wednesday, July 8th. They issued a "market perform" rating and a $70.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $78.35.

GE HealthCare Technologies Trading Down 0.2%

NASDAQ GEHC traded down $0.15 during trading hours on Monday, reaching $69.42. The company had a trading volume of 588,561 shares, compared to its average volume of 4,240,208. The stock has a 50-day moving average of $68.54 and a 200 day moving average of $66.78. GE HealthCare Technologies Inc. has a 1-year low of $58.75 and a 1-year high of $89.77. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $31.36 billion, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 1.84 and a beta of 0.73.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same quarter last year, the firm posted $1.06 earnings per share. GE HealthCare Technologies's revenue was up 5.8% compared to the same quarter last year. As a group, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, October 23rd. This is an increase from GE HealthCare Technologies's previous quarterly dividend of $0.0350. GE HealthCare Technologies's dividend payout ratio is 3.67%.

GE HealthCare Technologies Profile

GE HealthCare Technologies Inc is a global medical technology company that develops and provides products, services and digital solutions for healthcare providers. Its offerings are designed to support the diagnosis, treatment and monitoring of patients across hospitals, outpatient facilities, imaging centers and other care settings.

The company's portfolio includes medical imaging systems such as computed tomography, magnetic resonance imaging, molecular imaging, surgical imaging and X-ray equipment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.