Credit Agricole S A Has $15.70 Million Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• Credit Agricole S A has increased its holdings in GE HealthCare Technologies by 8.8%, acquiring an additional 15,708 shares, bringing their total to 194,501 shares valued at approximately $15.7 million.
• Institutional investors own 82.06% of GE HealthCare Technologies, with notable increases in stakes from JPMorgan Chase & Co., Dimensional Fund Advisors LP, and others during the first quarter.
• GE HealthCare Technologies recently announced a $1 billion stock buyback program and reported better-than-expected quarterly earnings of $1.06 per share, exceeding the consensus estimate of $0.91.

Credit Agricole S A grew its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 194,501 shares of the company's stock after buying an additional 15,708 shares during the quarter. Credit Agricole S A's holdings in GE HealthCare Technologies were worth $15,698,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GEHC. JPMorgan Chase & Co. grew its stake in GE HealthCare Technologies by 49.9% during the first quarter. JPMorgan Chase & Co. now owns 5,140,549 shares of the company's stock worth $414,894,000 after buying an additional 1,711,963 shares during the last quarter. Eminence Capital LP bought a new stake in GE HealthCare Technologies during the fourth quarter worth about $102,574,000. BNP Paribas Financial Markets bought a new stake in GE HealthCare Technologies during the fourth quarter worth about $76,093,000. Nuveen LLC bought a new stake in shares of GE HealthCare Technologies during the first quarter valued at approximately $77,058,000. Finally, GAMMA Investing LLC increased its holdings in shares of GE HealthCare Technologies by 9,524.6% in the first quarter. GAMMA Investing LLC now owns 771,507 shares of the company's stock valued at $62,268,000 after purchasing an additional 763,491 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Down 0.7%

Shares of NASDAQ:GEHC traded down $0.53 during midday trading on Tuesday, reaching $74.06. 475,578 shares of the company were exchanged, compared to its average volume of 3,994,000. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The company has a quick ratio of 0.93, a current ratio of 1.16 and a debt-to-equity ratio of 0.85. The stock has a fifty day simple moving average of $74.04 and a two-hundred day simple moving average of $74.95. The firm has a market cap of $33.81 billion, a PE ratio of 15.18, a P/E/G ratio of 2.87 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.15. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same period last year, the business posted $1.00 earnings per share. The firm'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. As a group, sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently weighed in on GEHC shares. Wells Fargo & Company lowered their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Evercore ISI cut their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their price target for the company from $74.00 to $73.00 in a research note on Monday, May 5th. The Goldman Sachs Group cut their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup upped their price target on GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $88.55.

About GE HealthCare Technologies

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.