Raymond James Financial Inc. Grows Stake in GE HealthCare Technologies Inc. $GEHC

Key Points

• Raymond James Financial Inc. increased its stake in GE HealthCare Technologies Inc. by 13.3%, owning 1,064,955 shares worth approximately $85.95 million after acquiring an additional 125,170 shares.
• Analysts have rated GE HealthCare with an average of "Moderate Buy," and the company has a current consensus price target of $88.55.
• GE HealthCare Technologies recently announced a $1 billion stock repurchase program, indicating that its board believes the shares may be undervalued.

Raymond James Financial Inc. boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,064,955 shares of the company's stock after purchasing an additional 125,170 shares during the quarter. Raymond James Financial Inc. owned approximately 0.23% of GE HealthCare Technologies worth $85,953,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. LGT Financial Advisors LLC increased its holdings in GE HealthCare Technologies by 46.2% during the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after purchasing an additional 123 shares during the period. Integrated Wealth Concepts LLC increased its holdings in GE HealthCare Technologies by 0.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 17,173 shares of the company's stock worth $1,343,000 after purchasing an additional 126 shares during the period. Graypoint LLC increased its holdings in GE HealthCare Technologies by 5.7% during the 1st quarter. Graypoint LLC now owns 3,028 shares of the company's stock worth $244,000 after purchasing an additional 162 shares during the period. Ferguson Wellman Capital Management Inc. increased its holdings in GE HealthCare Technologies by 3.2% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 5,336 shares of the company's stock worth $431,000 after purchasing an additional 166 shares during the period. Finally, Spire Wealth Management increased its holdings in GE HealthCare Technologies by 5.2% during the 1st quarter. Spire Wealth Management now owns 3,367 shares of the company's stock worth $272,000 after purchasing an additional 166 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GEHC shares. Citigroup upped their price target on GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price objective for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. Evercore ISI lowered their price objective on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. BTIG Research reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Finally, Morgan Stanley lowered their price objective on 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. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $88.55.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC traded down $0.63 during trading hours on Monday, reaching $74.59. The stock had a trading volume of 1,988,477 shares, compared to its average volume of 4,086,412. The firm has a market cap of $34.05 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 2.87 and a beta of 1.13. 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 fifty-two week low of $57.65 and a fifty-two week high of $94.80. The firm has a 50-day moving average of $74.04 and a 200-day moving average of $74.95.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5 billion during the quarter, compared to analysts' expectations of $4.96 billion. During the same period in the prior year, the firm earned $1.00 EPS. The business's revenue was up 3.5% on a year-over-year basis. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, July 25th. GE HealthCare Technologies's dividend payout ratio is 2.87%.

GE HealthCare Technologies declared that its Board of Directors has initiated a share repurchase program on Wednesday, April 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its stock is undervalued.

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.