ING Groep NV Has $26.43 Million Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Key Points

• ING Groep NV significantly increased its stake in GE HealthCare Technologies by acquiring 319,212 shares, raising its total ownership to approximately 327,449 shares valued at $26.43 million.
• Several institutional investors have also increased their positions in GE HealthCare Technologies, with 82.06% of the company's stock now held by institutional owners.
• GE HealthCare Technologies reported a quarterly earnings per share (EPS) of $1.06, surpassing analyst expectations, and recently announced a dividend of $0.035 per share.

ING Groep NV raised its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 3,875.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 327,449 shares of the company's stock after purchasing an additional 319,212 shares during the quarter. ING Groep NV owned approximately 0.07% of GE HealthCare Technologies worth $26,428,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new stake in shares of GE HealthCare Technologies in the 1st quarter valued at approximately $25,000. Bogart Wealth LLC grew its position in GE HealthCare Technologies by 260.0% in the first quarter. Bogart Wealth LLC now owns 342 shares of the company's stock worth $28,000 after acquiring an additional 247 shares in the last quarter. Stonebridge Financial Group LLC increased its stake 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 worth $29,000 after purchasing an additional 222 shares during the last quarter. LGT Financial Advisors LLC raised its holdings 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 in the last quarter. Finally, Accredited Wealth Management LLC acquired a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at $30,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GEHC has been the subject of a number of recent research reports. Piper Sandler decreased their price objective on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Evercore ISI decreased their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a research note 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 note on Monday, May 5th. BTIG Research restated a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Finally, Citigroup increased their price target on GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies has an average rating of "Moderate Buy" and an average price target of $88.55.

GE HealthCare Technologies Stock Performance

GEHC traded up $0.90 during midday trading on Friday, reaching $72.00. The company's stock had a trading volume of 1,672,985 shares, compared to its average volume of 4,091,757. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. The company has a fifty day simple moving average of $73.58 and a 200 day simple moving average of $76.31. The stock has a market cap of $32.87 billion, a P/E ratio of 14.75, a PEG ratio of 2.67 and a beta of 1.13. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.15. The business had revenue of $5 billion for 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%. GE HealthCare Technologies's quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company posted $1.00 earnings per share. Research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies announced that its Board of Directors has approved a share buyback program on Wednesday, April 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, July 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.87%.

GE HealthCare Technologies Company 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.