Mitsubishi UFJ Asset Management Co. Ltd. Acquires 73,589 Shares of GE HealthCare Technologies Inc. $GEHC

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 909,949 shares of the company’s stock after acquiring an additional 73,589 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.20% of GE HealthCare Technologies worth $67,400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GEHC. N.E.W. Advisory Services LLC bought a new stake in shares of GE HealthCare Technologies in the first quarter valued at approximately $25,000. Bogart Wealth LLC lifted its holdings in GE HealthCare Technologies by 260.0% in 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 during the period. Gladwyn Financial Advisors Inc. bought a new position in shares of GE HealthCare Technologies during the 2nd quarter worth approximately $34,000. Game Plan Financial Advisors LLC raised its position in shares of GE HealthCare Technologies by 295.3% during the second quarter. Game Plan Financial Advisors LLC now owns 502 shares of the company’s stock worth $37,000 after purchasing an additional 375 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new position in GE HealthCare Technologies during the 1st quarter valued at about $42,000. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Down 1.5%

Shares of NASDAQ:GEHC opened at $73.05 on Monday. The business has a fifty day moving average of $75.12 and a two-hundred day moving average of $73.56. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The company has a quick ratio of 0.95, a current ratio of 1.18 and a debt-to-equity ratio of 0.83. The stock has a market cap of $33.28 billion, a P/E ratio of 15.09, a PEG ratio of 2.75 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, October 29th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.02. The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.07 billion. GE HealthCare Technologies had a return on equity of 22.52% and a net margin of 10.94%.GE HealthCare Technologies’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $1.14 earnings per share. GE HealthCare Technologies has set its FY 2025 guidance at 4.510-4.630 EPS. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, October 24th. GE HealthCare Technologies’s dividend payout ratio is 2.89%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GEHC shares. Wells Fargo & Company dropped their target price on GE HealthCare Technologies from $89.00 to $87.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Barclays began coverage on GE HealthCare Technologies in a research report on Monday, October 13th. They set an “equal weight” rating and a $86.00 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of GE HealthCare Technologies in a report on Tuesday, October 14th. Citigroup downgraded GE HealthCare Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $93.00 to $83.00 in a research note on Tuesday, October 7th. Finally, Evercore ISI lifted their price objective on shares of GE HealthCare Technologies from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.10.

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.