Norinchukin Bank The Grows Stock Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• Norinchukin Bank increased its stake in GE HealthCare Technologies by 44.1% during the first quarter, acquiring a total of 35,745 shares valued at approximately $2.89 million.
• The company reported an earnings per share (EPS) of $1.06, exceeding estimates, and recorded $5 billion in revenue for the quarter, reflecting a 3.5% year-over-year growth.
• GE HealthCare has initiated a $1 billion stock repurchase plan, indicating management's belief that the stock is undervalued.

Norinchukin Bank The raised its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 44.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,745 shares of the company's stock after acquiring an additional 10,935 shares during the period. Norinchukin Bank The's holdings in GE HealthCare Technologies were worth $2,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. N.E.W. Advisory Services LLC bought a new position in shares of GE HealthCare Technologies during the 1st quarter valued at approximately $25,000. Bogart Wealth LLC increased its position in shares of GE HealthCare Technologies by 260.0% during the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after purchasing an additional 247 shares during the last quarter. Stonebridge Financial Group LLC increased its position in shares of GE HealthCare Technologies by 165.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. LGT Financial Advisors LLC increased its position in shares of GE HealthCare Technologies by 46.2% during the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after purchasing an additional 123 shares during the last quarter. Finally, Accredited Wealth Management LLC bought a new position in shares of GE HealthCare Technologies during the 4th quarter valued at approximately $30,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Up 0.3%

GEHC traded up $0.21 on Wednesday, hitting $74.30. The company had a trading volume of 1,502,107 shares, compared to its average volume of 3,986,372. The stock has a market capitalization of $33.92 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 2.85 and a beta of 1.13. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16. The stock has a fifty day moving average price of $74.10 and a 200-day moving average price of $74.95. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.15. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The firm's revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 earnings per share. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. Analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies announced that its board has approved a share repurchase plan on Wednesday, April 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its stock is 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. The ex-dividend date was Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is 2.87%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GEHC shares. The Goldman Sachs Group cut their target price on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their price objective for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. 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 research report on Thursday, May 1st. Finally, Citigroup upped their price objective on GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.