Hsbc Holdings PLC Boosts Stake in GE HealthCare Technologies Inc. $GEHC

Hsbc Holdings PLC raised its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 22.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,004,490 shares of the company’s stock after acquiring an additional 186,800 shares during the period. Hsbc Holdings PLC’s holdings in GE HealthCare Technologies were worth $64,217,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GEHC. Auto Owners Insurance Co grew its holdings in shares of GE HealthCare Technologies by 9,525.4% during the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock worth $278,725,000 after purchasing an additional 33,629,559 shares in the last quarter. Dodge & Cox raised its stake in GE HealthCare Technologies by 13.4% in the fourth quarter. Dodge & Cox now owns 31,211,229 shares of the company’s stock valued at $2,559,945,000 after purchasing an additional 3,693,918 shares in the last quarter. Capital Research Global Investors lifted its position in GE HealthCare Technologies by 1.6% during the fourth quarter. Capital Research Global Investors now owns 25,362,352 shares of the company’s stock valued at $2,080,248,000 after purchasing an additional 389,796 shares during the last quarter. State Street Corp lifted its position in GE HealthCare Technologies by 2.0% during the fourth quarter. State Street Corp now owns 20,049,677 shares of the company’s stock valued at $1,644,475,000 after purchasing an additional 401,932 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in GE HealthCare Technologies by 13.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock worth $861,307,000 after buying an additional 1,571,226 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

GEHC has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of GE HealthCare Technologies in a report on Wednesday, August 12th. Oppenheimer reiterated an “outperform” rating on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. Evercore reissued an “outperform” rating and issued a $84.00 target price on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. UBS Group raised their price target on GE HealthCare Technologies from $67.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Finally, Royal Bank Of Canada initiated coverage on GE HealthCare Technologies in a research note on Tuesday, June 23rd. They set an “outperform” rating and a $80.00 price target for the company. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $77.73.

GE HealthCare Technologies Trading Down 0.8%

Shares of GEHC opened at $73.31 on Thursday. The firm has a market cap of $33.11 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 2.13 and a beta of 0.69. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. GE HealthCare Technologies Inc. has a fifty-two week low of $58.75 and a fifty-two week high of $89.77. The firm has a 50 day moving average price of $67.25 and a 200-day moving average price of $69.37.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.04 by $0.09. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 EPS. As a group, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.2%. The ex-dividend date was Friday, July 24th. GE HealthCare Technologies’s dividend payout ratio is presently 3.21%.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.