GE HealthCare Technologies Inc. $GEHC Shares Bought by Comerica Bank

Key Points

• Comerica Bank has increased its holdings in GE HealthCare Technologies Inc. by 21.4%, acquiring an additional 23,096 shares, bringing its total holdings to 130,919 shares valued at $10.57 million.
• Several large institutional investors, including JPMorgan Chase & Co. and Hotchkis & Wiley Capital Management, have also significantly increased their stakes in GE HealthCare Technologies during the first quarter.
• GE HealthCare Technologies reported earnings per share of $1.06 for the latest quarter, exceeding expectations, and has announced a share repurchase plan allowing for up to $1 billion in buybacks.

Comerica Bank increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 21.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 130,919 shares of the company's stock after buying an additional 23,096 shares during the quarter. Comerica Bank's holdings in GE HealthCare Technologies were worth $10,566,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GEHC. MML Investors Services LLC increased its stake in GE HealthCare Technologies by 9.8% during the fourth quarter. MML Investors Services LLC now owns 24,899 shares of the company's stock worth $1,947,000 after acquiring an additional 2,215 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in GE HealthCare Technologies by 0.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 17,173 shares of the company's stock worth $1,343,000 after acquiring an additional 126 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in GE HealthCare Technologies by 4.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 10,021 shares of the company's stock worth $783,000 after acquiring an additional 457 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in GE HealthCare Technologies during the fourth quarter worth $230,000. Finally, Public Employees Retirement Association of Colorado increased its stake in GE HealthCare Technologies by 0.6% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 59,294 shares of the company's stock worth $4,636,000 after acquiring an additional 356 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

GEHC has been the subject of several recent analyst reports. Morgan Stanley cut their target price on GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Evercore ISI cut their price objective on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Wells Fargo & Company cut their price objective on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, The Goldman Sachs Group cut their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.55.

GE HealthCare Technologies Stock Up 0.0%

Shares of NASDAQ:GEHC traded up $0.01 on Friday, hitting $73.73. 1,982,987 shares of the company's stock were exchanged, compared to its average volume of 3,120,437. The firm's 50-day moving average is $74.23 and its 200 day moving average is $74.76. The company has a market capitalization of $33.66 billion, a PE ratio of 15.11, a P/E/G ratio of 2.82 and a beta of 1.13. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.15. The business had revenue of $5 billion during 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%.The business's quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 EPS. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. Sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were given a $0.035 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies's dividend payout ratio is 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.