Hsbc Holdings PLC boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 22.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,004,490 shares of the company's stock after buying an additional 186,800 shares during the quarter. Hsbc Holdings PLC owned approximately 0.22% of GE HealthCare Technologies worth $64,217,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in GEHC. Empowered Funds LLC raised its position in shares of GE HealthCare Technologies by 6.1% during the first quarter. Empowered Funds LLC now owns 28,848 shares of the company's stock worth $2,328,000 after acquiring an additional 1,665 shares during the last quarter. Acadian Asset Management LLC bought a new stake in GE HealthCare Technologies in the first quarter valued at approximately $259,000. Cresset Asset Management LLC boosted its stake in shares of GE HealthCare Technologies by 12.5% in the 2nd quarter. Cresset Asset Management LLC now owns 7,802 shares of the company's stock valued at $578,000 after purchasing an additional 865 shares during the last quarter. Jump Financial LLC boosted its position in GE HealthCare Technologies by 317.6% during the second quarter. Jump Financial LLC now owns 28,132 shares of the company's stock valued at $2,084,000 after acquiring an additional 21,396 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in GE HealthCare Technologies by 8.6% during the second quarter. Gamco Investors INC. ET AL now owns 4,041 shares of the company's stock worth $299,000 after purchasing an additional 320 shares during the period. Institutional investors own 82.06% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. Argus reduced their price target on shares of GE HealthCare Technologies from $95.00 to $80.00 and set a "buy" rating for the company in a report on Tuesday, May 19th. Piper Sandler restated a "buy" rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Rothschild & Co Redburn cut their target price on GE HealthCare Technologies from $110.00 to $98.00 in a research note on Thursday, April 30th. Jefferies Financial Group dropped their price target on GE HealthCare Technologies from $105.00 to $90.00 in a report on Thursday, April 30th. Finally, UBS Group upped their price objective on GE HealthCare Technologies from $67.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Ten equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $77.73.
View Our Latest Research Report on GEHC
GE HealthCare Technologies Trading Down 0.8%
Shares of GEHC opened at $73.31 on Thursday. GE HealthCare Technologies Inc. has a twelve month low of $58.75 and a twelve month high of $89.77. The stock has a market cap of $33.11 billion, a PE ratio of 16.81, a P/E/G ratio of 2.13 and a beta of 0.69. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.92. The business's 50-day moving average price is $67.25 and its 200-day moving average price is $69.37.
GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. GE HealthCare Technologies's revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $1.06 earnings per share. On average, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.93 EPS for the current fiscal year.
GE HealthCare Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, July 24th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 3.21%.
GE HealthCare Technologies Profile
(
Free Report)
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.
Further Reading
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