Hsbc Holdings PLC Has $64.22 Million Stake in GE HealthCare Technologies Inc. $GEHC

Key Points

• HSBC Holdings increased its GE HealthCare stake by 22.8% in the second quarter, adding 186,800 shares to own 1,004,490 shares valued at approximately $64.2 million. Institutional investors collectively own 82.06% of GEHC.
• GE HealthCare exceeded quarterly expectations, reporting $1.13 in earnings per share on $5.29 billion in revenue, with revenue rising 5.8% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $77.73, while GEHC recently paid a $0.035 quarterly dividend, equivalent to a 0.2% yield.

Hsbc Holdings PLC lifted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 22.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,004,490 shares of the company's stock after acquiring an additional 186,800 shares during the period. Hsbc Holdings PLC owned 0.22% of GE HealthCare Technologies worth $64,217,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GEHC. Empowered Funds LLC lifted its position in GE HealthCare Technologies by 6.1% during the 1st 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 position in GE HealthCare Technologies in the 1st quarter worth approximately $259,000. Cresset Asset Management LLC increased its position in GE HealthCare Technologies by 12.5% in the 2nd quarter. Cresset Asset Management LLC now owns 7,802 shares of the company's stock worth $578,000 after buying an additional 865 shares during the period. Jump Financial LLC lifted its holdings in shares of GE HealthCare Technologies by 317.6% during the second quarter. Jump Financial LLC now owns 28,132 shares of the company's stock worth $2,084,000 after buying an additional 21,396 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of 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 buying an additional 320 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $68.86 on Tuesday. The firm has a market capitalization of $31.10 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.82 and a beta of 0.70. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77. The business has a fifty day simple moving average of $68.36 and a 200 day simple moving average of $68.84. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the previous year, the company earned $1.06 earnings per share. The business's revenue was up 5.8% compared to the same quarter last year. Sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.93 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 24th were paid a $0.035 dividend. The ex-dividend date of this dividend was 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 presently 3.21%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GEHC. Weiss Ratings reissued a "hold (c-)" rating on shares of GE HealthCare Technologies in a research report on Wednesday, August 12th. Royal Bank Of Canada initiated coverage on shares of GE HealthCare Technologies in a research report on Tuesday, June 23rd. They set an "outperform" rating and a $80.00 target price on the stock. BTIG Research reiterated a "buy" rating and set a $79.00 target price on shares of GE HealthCare Technologies in a research note on Wednesday, August 19th. Zacks Research raised shares of GE HealthCare Technologies from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Finally, The Goldman Sachs Group restated a "neutral" rating on shares of GE HealthCare Technologies in a research report on Monday, June 8th. Ten research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $77.73.

GE HealthCare Technologies Company Profile

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.

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