Fifth Third Bancorp Buys 98,038 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• Fifth Third Bancorp increased its stake in GE HealthCare Technologies by 292.9% in the first quarter, buying 98,038 additional shares and bringing its total holding to 131,506 shares worth about $9.36 million.
• GE HealthCare reported quarterly EPS of $0.99, missing analyst estimates, while revenue came in at $5.13 billion and rose 7.4% year over year. The company also reaffirmed FY 2026 EPS guidance of 4.800-5.000.
• The stock has attracted mixed analyst sentiment, with a consensus rating of Moderate Buy and an average price target of $79.48. GEHC also pays a small quarterly dividend of $0.035 per share, yielding about 0.2% annually.

Fifth Third Bancorp lifted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 292.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,506 shares of the company's stock after buying an additional 98,038 shares during the quarter. Fifth Third Bancorp's holdings in GE HealthCare Technologies were worth $9,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC purchased a new stake in shares of GE HealthCare Technologies in the 4th quarter worth about $26,000. Optima Capital LLC purchased a new position in GE HealthCare Technologies in the 4th quarter worth approximately $27,000. Godfrey Financial Associates Inc. purchased a new position in shares of GE HealthCare Technologies in the fourth quarter worth $27,000. Montag A & Associates Inc. lifted its stake in GE HealthCare Technologies by 105.4% during the 4th quarter. Montag A & Associates Inc. now owns 341 shares of the company's stock valued at $28,000 after acquiring an additional 175 shares during the period. Finally, Transamerica Financial Advisors LLC lifted its position in GE HealthCare Technologies by 331.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company's stock valued at $28,000 after purchasing an additional 262 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

GEHC opened at $63.20 on Thursday. The company has a current ratio of 1.22, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $28.75 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.68 and a beta of 0.72. The business's fifty day simple moving average is $63.56 and its 200-day simple moving average is $72.15. GE HealthCare Technologies Inc. has a 12-month low of $58.75 and a 12-month high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.08). The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.04 billion. GE HealthCare Technologies had a net margin of 9.10% and a return on equity of 20.46%. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 EPS. GE HealthCare Technologies has set its FY 2026 guidance at 4.800-5.000 EPS. On average, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.89 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 24th will be issued a $0.035 dividend. The ex-dividend date is Friday, July 24th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies's payout ratio is currently 3.35%.

Insider Activity

In other news, CEO Peter J. Arduini bought 4,169 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The stock was bought at an average price of $59.92 per share, with a total value of $249,806.48. Following the completion of the transaction, the chief executive officer directly owned 259,424 shares of the company's stock, valued at approximately $15,544,686.08. The trade was a 1.63% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Frank R. Jimenez acquired 1,750 shares of the stock in a transaction dated Thursday, April 30th. The stock was acquired at an average cost of $60.45 per share, with a total value of $105,787.50. Following the transaction, the insider directly owned 93,932 shares in the company, valued at approximately $5,678,189.40. This represents a 1.90% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 21,847 shares of company stock worth $1,361,355 over the last 90 days. 0.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GEHC. Piper Sandler dropped their target price on GE HealthCare Technologies from $88.00 to $74.00 in a research report on Thursday, April 30th. The Goldman Sachs Group reiterated a "neutral" rating on shares of GE HealthCare Technologies in a research note on Monday, June 8th. Weiss Ratings downgraded shares of GE HealthCare Technologies from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, May 15th. Evercore set a $80.00 target price on GE HealthCare Technologies in a research report on Thursday, April 30th. Finally, Stifel Nicolaus set a $80.00 price objective on shares of GE HealthCare Technologies in a research report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $79.48.

About GE HealthCare Technologies

GE HealthCare Technologies NASDAQ: GEHC is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.

Want to see what other hedge funds are holding GEHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report).

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.