GE HealthCare Technologies Inc. $GEHC Shares Bought by National Pension Service

Key Points

• The National Pension Service increased its stake in GE HealthCare Technologies Inc. by 11.0%, now owning 756,041 shares worth approximately $61 million.
• GE HealthCare Technologies recently reported an earnings per share (EPS) of $1.06, exceeding expectations, with quarterly revenue reaching $5 billion.
• Several analysts have adjusted their price targets for GE HealthCare Technologies, with an average target of $88.55 and a consensus rating of "Moderate Buy".

National Pension Service boosted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 11.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 756,041 shares of the company's stock after acquiring an additional 74,739 shares during the quarter. National Pension Service owned about 0.17% of GE HealthCare Technologies worth $61,020,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at $20,891,000. Breakwater Capital Group acquired a new stake in shares of GE HealthCare Technologies during the first quarter valued at $210,000. Bessemer Group Inc. boosted its stake in shares of GE HealthCare Technologies by 24.3% during the first quarter. Bessemer Group Inc. now owns 6,671 shares of the company's stock valued at $538,000 after acquiring an additional 1,306 shares during the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of GE HealthCare Technologies by 17.4% during the first quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company's stock valued at $278,000 after acquiring an additional 511 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of GE HealthCare Technologies by 23.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company's stock valued at $4,105,000 after acquiring an additional 9,769 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on GEHC. Wells Fargo & Company decreased their price objective on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Citigroup raised their price target 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. The Goldman Sachs Group decreased their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Evercore ISI decreased their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Piper Sandler decreased their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $88.55.

GE HealthCare Technologies Stock Down 0.3%

GEHC stock traded down $0.23 during midday trading on Monday, hitting $73.17. 2,109,310 shares of the company's stock were exchanged, compared to its average volume of 4,053,566. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The firm has a 50 day moving average price of $73.90 and a 200-day moving average price of $75.53. The stock has a market capitalization of $33.41 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 2.80 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted 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 company had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%. GE HealthCare Technologies's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 EPS. On average, analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its board has initiated a share buyback plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were given a dividend of $0.035 per share. The ex-dividend date was Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies's payout ratio 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.