Corebridge Financial Inc. Has $11.11 Million Stake in GE HealthCare Technologies Inc. $GEHC

Key Points

• Corebridge Financial Inc. has reduced its stake in GE HealthCare Technologies Inc. by 3.0%, holding 137,670 shares valued at $11.11 million as of the latest SEC filing.
• GE HealthCare Technologies reported a quarterly earnings per share (EPS) of $1.06, exceeding analysts' expectations, and its revenue grew by 3.5% year-over-year to $5 billion.
• The company's quarterly dividend of $0.035 per share represents a yield of 0.2%, with a low payout ratio of 2.87%, indicating strong financial health.

Corebridge Financial Inc. decreased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,670 shares of the company's stock after selling 4,289 shares during the quarter. Corebridge Financial Inc.'s holdings in GE HealthCare Technologies were worth $11,111,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC boosted its holdings in GE HealthCare Technologies by 46.2% during the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after acquiring an additional 123 shares during the period. Integrated Wealth Concepts LLC boosted its stake in GE HealthCare Technologies by 0.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 17,173 shares of the company's stock valued at $1,343,000 after purchasing an additional 126 shares during the period. Knuff & Co LLC boosted its stake in GE HealthCare Technologies by 1.5% during the 1st quarter. Knuff & Co LLC now owns 10,276 shares of the company's stock valued at $829,000 after purchasing an additional 150 shares during the period. Graypoint LLC grew its holdings in GE HealthCare Technologies by 5.7% in the 1st quarter. Graypoint LLC now owns 3,028 shares of the company's stock valued at $244,000 after buying an additional 162 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. increased its position in GE HealthCare Technologies by 3.2% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 5,336 shares of the company's stock worth $431,000 after buying an additional 166 shares during the period. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Down 0.7%

Shares of GEHC opened at $74.09 on Wednesday. The company has a market capitalization of $33.83 billion, a P/E ratio of 15.18, a PEG ratio of 2.85 and a beta of 1.13. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80. The business's 50 day simple moving average is $74.10 and its 200-day simple moving average is $74.95. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.15. The firm had revenue of $5 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. As a group, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were given a dividend of $0.035 per share. The ex-dividend date was Friday, July 25th. This represents a $0.14 annualized dividend and a yield of 0.2%. GE HealthCare Technologies's dividend payout ratio is 2.87%.

GE HealthCare Technologies announced that its Board of Directors has approved a share repurchase program on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GEHC shares. Morgan Stanley lowered their price objective on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. Evercore ISI reduced their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. The Goldman Sachs Group dropped their price objective on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Citigroup increased their target price on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Company 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.

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