Corebridge Financial Inc. Has $11.11 Million Position in GE HealthCare Technologies Inc. $GEHC

Corebridge Financial Inc. decreased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 137,670 shares of the company’s stock after selling 4,289 shares during the quarter. Corebridge Financial Inc.’s holdings in GE HealthCare Technologies were worth $11,111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GEHC. LGT Financial Advisors LLC raised its position in shares of GE HealthCare Technologies by 46.2% during the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock worth $30,000 after acquiring an additional 123 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in GE HealthCare Technologies by 0.7% in the fourth 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. Knuff & Co LLC raised its holdings in GE HealthCare Technologies by 1.5% during the 1st quarter. Knuff & Co LLC now owns 10,276 shares of the company’s stock worth $829,000 after purchasing an additional 150 shares during the last quarter. Graypoint LLC lifted its position in GE HealthCare Technologies by 5.7% during the 1st quarter. Graypoint LLC now owns 3,028 shares of the company’s stock valued at $244,000 after purchasing an additional 162 shares during the period. Finally, Ferguson Wellman Capital Management Inc. lifted its position 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 valued at $431,000 after purchasing an additional 166 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

Shares of GEHC stock opened at $74.09 on Wednesday. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The firm has a market capitalization of $33.83 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 2.85 and a beta of 1.13. The company has a quick ratio of 0.93, a current ratio of 1.16 and a debt-to-equity ratio of 0.85. The firm has a fifty day moving average of $74.10 and a 200-day moving average of $74.95.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.91 by $0.15. The business 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%.The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. 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 declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Citigroup lifted 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. Wells Fargo & Company dropped their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Morgan Stanley reduced their price target on GE HealthCare Technologies from $78.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 31st. The Goldman Sachs Group decreased their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Wall Street Zen raised GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, May 31st. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $88.55.

About GE HealthCare Technologies

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.