Mirae Asset Global Investments Co. Ltd. Makes New Investment in GE HealthCare Technologies Inc. $GEHC

Key Points

• Mirae Asset Global Investments acquired 323,123 GE HealthCare shares worth approximately $21.1 million in the third quarter, while institutional investors collectively owned 82.06% of the company.
• GE HealthCare exceeded quarterly expectations, reporting $1.34 EPS versus the $1.20 consensus and $5.51 billion in revenue, up 7.2% year over year.
• The company increased its quarterly dividend to $0.04 per share. Analysts maintain a “Moderate Buy” consensus with an average price target of $80.57, including recent bullish targets from Needham and Barclays.

Mirae Asset Global Investments Co. Ltd. bought a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 323,123 shares of the company's stock, valued at approximately $21,123,000. Mirae Asset Global Investments Co. Ltd. owned 0.07% of GE HealthCare Technologies at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GEHC. ProShare Advisors LLC boosted its holdings in GE HealthCare Technologies by 2.8% in the third quarter. ProShare Advisors LLC now owns 518,028 shares of the company's stock worth $33,863,000 after acquiring an additional 14,052 shares in the last quarter. Vise Technologies Inc. grew its stake in shares of GE HealthCare Technologies by 2.3% in the third quarter. Vise Technologies Inc. now owns 10,807 shares of the company's stock worth $706,000 after acquiring an additional 243 shares during the last quarter. Americana Partners LLC increased its holdings in shares of GE HealthCare Technologies by 9.2% during the third quarter. Americana Partners LLC now owns 4,169 shares of the company's stock valued at $273,000 after acquiring an additional 350 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of GE HealthCare Technologies by 334.2% during the third quarter. International Assets Investment Management LLC now owns 50,000 shares of the company's stock valued at $3,268,000 after acquiring an additional 38,485 shares in the last quarter. Finally, Soltis Investment Advisors LLC raised its position in shares of GE HealthCare Technologies by 10.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 3,610 shares of the company's stock worth $236,000 after purchasing an additional 353 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $79.55 on Tuesday. GE HealthCare Technologies Inc. has a fifty-two week low of $58.75 and a fifty-two week high of $89.77. The business has a 50-day simple moving average of $68.55 and a two-hundred day simple moving average of $70.03. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.97 and a current ratio of 1.30. The firm has a market cap of $35.93 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 1.97 and a beta of 0.73.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, October 28th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.14. The business had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.35 billion. GE HealthCare Technologies had a net margin of 9.96% and a return on equity of 20.45%. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 EPS. On average, analysts expect that GE HealthCare Technologies Inc. will post 5.02 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. This is a positive change from GE HealthCare Technologies's previous quarterly dividend of $0.0350. The ex-dividend date is Friday, October 23rd. GE HealthCare Technologies's payout ratio is currently 3.38%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GEHC. Piper Sandler reiterated a "buy" rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Weiss Ratings raised shares of GE HealthCare Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, October 6th. Needham & Company LLC restated a "buy" rating and set a $93.00 price objective on shares of GE HealthCare Technologies in a research note on Monday, October 5th. Bank of America reaffirmed a "neutral" rating on shares of GE HealthCare Technologies in a report on Thursday. Finally, Barclays upped their target price on shares of GE HealthCare Technologies from $85.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday. Twelve 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 company currently has an average rating of "Moderate Buy" and a consensus target price of $80.57.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology company that develops and provides products, services and digital solutions for healthcare providers. Its offerings are designed to support the diagnosis, treatment and monitoring of patients across hospitals, outpatient facilities, imaging centers and other care settings.

The company's portfolio includes medical imaging systems such as computed tomography, magnetic resonance imaging, molecular imaging, surgical imaging and X-ray equipment.

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