Charles Schwab Investment Management Inc. Has $247.71 Million Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in GE HealthCare Technologies Inc. by 3.7%, owning 3,069,114 shares valued at $247.71 million.
• GE HealthCare reported a quarterly EPS of $1.06, surpassing expectations and demonstrating a 3.5% revenue growth from the previous year.
• The company has initiated a $1 billion stock buyback plan, indicating that the board believes its stock is undervalued.

Charles Schwab Investment Management Inc. boosted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,069,114 shares of the company's stock after acquiring an additional 109,858 shares during the period. Charles Schwab Investment Management Inc. owned 0.67% of GE HealthCare Technologies worth $247,708,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GEHC. N.E.W. Advisory Services LLC purchased a new position in GE HealthCare Technologies during the 1st quarter worth $25,000. Bogart Wealth LLC lifted its holdings in shares of 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 purchasing an additional 247 shares in the last quarter. Stonebridge Financial Group LLC lifted its stake in shares of GE HealthCare Technologies by 165.7% during the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after buying an additional 222 shares during the period. LGT Financial Advisors LLC increased its position in 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 purchasing an additional 123 shares during the last quarter. Finally, Accredited Wealth Management LLC acquired a new position in GE HealthCare Technologies during the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GEHC shares. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Piper Sandler decreased their price target on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Morgan Stanley reduced their target price on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Finally, Evercore ISI dropped their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, GE HealthCare Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $88.55.

GE HealthCare Technologies Price Performance

Shares of GEHC stock traded up $1.41 during mid-day trading on Tuesday, reaching $74.41. The company's stock had a trading volume of 2,337,972 shares, compared to its average volume of 4,565,339. The company has a market cap of $33.97 billion, a P/E ratio of 15.25, a PEG ratio of 2.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16. The firm's 50-day moving average is $73.74 and its two-hundred day moving average is $75.92. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.15. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. GE HealthCare Technologies's revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 EPS. On average, 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 business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, July 25th. GE HealthCare Technologies's payout ratio is presently 2.87%.

GE HealthCare Technologies announced that its Board of Directors has authorized a share buyback plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign 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.