Korea Investment CORP Has $14.82 Million Stock Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• Korea Investment CORP has reduced its stake in GE HealthCare Technologies by 37.7%, selling 111,000 shares, and now holds 183,622 shares worth approximately $14.82 million.
• GE HealthCare Technologies reported an earnings per share (EPS) of $1.06 for its latest quarter, exceeding analyst estimates by $0.15, with total revenue reaching $5 billion.
• The company has initiated a $1 billion share repurchase program, indicating confidence in the company's valuation and aims to buy back up to 3.1% of its shares.

Korea Investment CORP reduced its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 37.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,622 shares of the company's stock after selling 111,000 shares during the quarter. Korea Investment CORP's holdings in GE HealthCare Technologies were worth $14,820,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GEHC. NewEdge Advisors LLC increased its position in GE HealthCare Technologies by 4.2% in the 4th quarter. NewEdge Advisors LLC now owns 17,907 shares of the company's stock valued at $1,400,000 after acquiring an additional 715 shares during the period. First Trust Advisors LP increased its position in GE HealthCare Technologies by 22.7% in the 4th quarter. First Trust Advisors LP now owns 568,569 shares of the company's stock valued at $44,451,000 after acquiring an additional 105,234 shares during the period. MML Investors Services LLC increased its position in GE HealthCare Technologies by 9.8% in the 4th quarter. MML Investors Services LLC now owns 24,899 shares of the company's stock valued at $1,947,000 after acquiring an additional 2,215 shares during the period. OneDigital Investment Advisors LLC increased its position in GE HealthCare Technologies by 110.8% in the 4th quarter. OneDigital Investment Advisors LLC now owns 29,081 shares of the company's stock valued at $2,274,000 after acquiring an additional 15,283 shares during the period. Finally, Stifel Financial Corp increased its position in GE HealthCare Technologies by 12.8% in the 4th quarter. Stifel Financial Corp now owns 296,491 shares of the company's stock valued at $23,180,000 after acquiring an additional 33,567 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GEHC. Wells Fargo & Company lowered their price target 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. BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. The Goldman Sachs Group lowered their price target 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. Finally, Citigroup lifted their price target 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 given a Hold rating to the company. According to data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Price Performance

Shares of GEHC traded up $0.17 during trading hours on Wednesday, hitting $74.26. 2,112,974 shares of the company were exchanged, compared to its average volume of 3,856,067. The company has a market capitalization of $33.90 billion, a PE ratio of 15.22, a PEG ratio of 2.83 and a beta of 1.13. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. The firm has a fifty day simple moving average of $74.15 and a 200-day simple moving average of $74.94. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80.

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 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 analyst estimates of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The company's revenue was up 3.5% compared to the same quarter last year. During the same period last 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 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

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

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

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.