Mirae Asset Global Investments Co. Ltd. Raises Stake in GE HealthCare Technologies Inc. $GEHC

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in GE HealthCare Technologies by 4.2%, acquiring an additional 6,479 shares, which brings its total holdings to 159,882 shares worth approximately $11.84 million.
• The company reported a net profit of $1.06 per share for the last quarter, exceeding analysts' expectations of $0.91, with quarterly revenues reaching $5 billion.
• GE HealthCare Technologies announced a quarterly dividend of $0.035 per share, which translates to an annualized yield of 0.2%, with payment scheduled for November 14th.

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 4.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 159,882 shares of the company's stock after purchasing an additional 6,479 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in GE HealthCare Technologies were worth $11,842,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GEHC. N.E.W. Advisory Services LLC purchased a new stake in GE HealthCare Technologies during the 1st quarter worth about $25,000. Bogart Wealth LLC increased its stake in GE HealthCare Technologies by 260.0% in the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock worth $28,000 after acquiring an additional 247 shares during the last quarter. Stonebridge Financial Group LLC increased its stake in GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock worth $29,000 after acquiring an additional 222 shares during the last quarter. Olde Wealth Management LLC bought a new position in GE HealthCare Technologies in the 1st quarter worth about $35,000. Finally, Zions Bancorporation National Association UT bought a new position in GE HealthCare Technologies in the 1st quarter worth about $42,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of GE HealthCare Technologies in a research note on Saturday, September 27th. Citigroup upped their target price on GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Wall Street Zen lowered GE HealthCare Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, September 20th. Morgan Stanley set a $74.00 target price on GE HealthCare Technologies in a research note on Thursday, September 18th. Finally, BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $86.89.

GE HealthCare Technologies Price Performance

Shares of GEHC stock opened at $76.56 on Friday. The firm has a market cap of $34.95 billion, a P/E ratio of 15.69, a P/E/G ratio of 2.93 and a beta of 1.13. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The business's 50 day moving average price is $74.25 and its 200-day moving average price is $72.54. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.15. The firm had revenue of $5 billion for 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 business's quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company earned $1.00 EPS. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. On average, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, October 24th. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.87%.

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.

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