Nissay Asset Management Corp Japan ADV Purchases 10,031 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• Nissay Asset Management Corp Japan ADV raised its stake in GE HealthCare Technologies Inc. by 9.7%, owning 113,722 shares valued at approximately $9.18 million at the end of the quarter.
• Multiple hedge funds were active in the first quarter, with notable increases in ownership, bringing hedge funds and institutional investors to collectively hold 82.06% of the company's stock.
• Analysts have varying opinions on GE HealthCare Technologies, with price targets ranging from $74.00 to $93.00, and the stock currently holds an average rating of "Moderate Buy" with a consensus price target of $88.55.

Nissay Asset Management Corp Japan ADV boosted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 9.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,722 shares of the company's stock after purchasing an additional 10,031 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in GE HealthCare Technologies were worth $9,179,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GEHC. N.E.W. Advisory Services LLC acquired a new stake in GE HealthCare Technologies in the first quarter worth about $25,000. Bogart Wealth LLC lifted its stake in GE HealthCare Technologies by 260.0% during the first quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after buying an additional 247 shares in the last quarter. Stonebridge Financial Group LLC increased its position in shares of GE HealthCare Technologies by 165.7% in the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock worth $29,000 after acquiring an additional 222 shares in the last quarter. Ameriflex Group Inc. purchased a new position in shares of GE HealthCare Technologies in the fourth quarter worth approximately $31,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of GE HealthCare Technologies during the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GEHC shares. Citigroup increased their price target on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Morgan Stanley reduced their price target on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Zacks Research raised GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. Finally, BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, GE HealthCare Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $88.40.

GE HealthCare Technologies Trading Down 3.5%

NASDAQ:GEHC traded down $2.72 on Wednesday, hitting $75.99. 4,101,699 shares of the stock were exchanged, compared to its average volume of 3,968,745. The stock has a market capitalization of $34.69 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 2.99 and a beta of 1.13. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The company's 50-day moving average price is $74.42 and its 200 day moving average price is $73.83. 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 announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.15. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The company had revenue of $5 billion for the quarter, compared to analysts' expectations of $4.96 billion. During the same quarter in the prior year, the business posted $1.00 EPS. The business's revenue was up 3.5% compared to the same quarter last year. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. On average, equities research analysts forecast 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 announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, July 25th. GE HealthCare Technologies's payout ratio 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.