Swedbank AB Acquires 53,575 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• Swedbank AB significantly increased its holdings in GE HealthCare Technologies by 71.9% in Q2, owning 128,101 shares valued at approximately $9.49 million.
• Market analysts have mixed views on GE HealthCare Technologies, with a downgrade to a "hold" rating by Wall Street Zen, while Citigroup set a higher price target of $93.00 with a "buy" rating.
• GE HealthCare Technologies reported a net revenue of $5 billion for the last quarter, exceeding analyst forecasts, alongside setting FY 2025 EPS guidance of 4.430-4.630.

Swedbank AB boosted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 71.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,101 shares of the company's stock after purchasing an additional 53,575 shares during the quarter. Swedbank AB's holdings in GE HealthCare Technologies were worth $9,488,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC raised its stake in GE HealthCare Technologies by 3.2% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,751,773 shares of the company's stock worth $464,226,000 after acquiring an additional 176,572 shares in the last quarter. JPMorgan Chase & Co. raised its stake in GE HealthCare Technologies by 49.9% during the first quarter. JPMorgan Chase & Co. now owns 5,140,549 shares of the company's stock worth $414,894,000 after acquiring an additional 1,711,963 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in GE HealthCare Technologies by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,943,579 shares of the company's stock worth $398,975,000 after acquiring an additional 157,839 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in GE HealthCare Technologies by 15.2% during the first quarter. Canada Pension Plan Investment Board now owns 3,111,398 shares of the company's stock worth $251,121,000 after acquiring an additional 409,636 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in GE HealthCare Technologies by 3.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,069,114 shares of the company's stock worth $247,708,000 after acquiring an additional 109,858 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Citigroup boosted 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 downgraded GE HealthCare Technologies from a "buy" rating to a "hold" rating in a research note on Saturday. BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. Zacks Research raised GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 28th. Finally, Morgan Stanley set a $74.00 price objective on GE HealthCare Technologies in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $88.40.

GE HealthCare Technologies Trading Down 0.2%

GEHC stock traded down $0.14 during trading on Monday, hitting $74.77. The company had a trading volume of 3,093,114 shares, compared to its average volume of 3,269,350. The business has a 50-day moving average of $74.53 and a 200-day moving average of $73.10. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80. The stock has a market cap of $34.14 billion, a PE ratio of 16.08, a PEG ratio of 2.86 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 (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate 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 business had revenue of $5 billion for the quarter, compared to analysts' expectations of $4.96 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The firm'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. Research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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