China Universal Asset Management Co. Ltd. Boosts Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

China Universal Asset Management Co. Ltd. increased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 51.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 11,295 shares of the company's stock after purchasing an additional 3,860 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in GE HealthCare Technologies were worth $912,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fullcircle Wealth LLC grew its holdings in GE HealthCare Technologies by 2.1% during the first quarter. Fullcircle Wealth LLC now owns 9,089 shares of the company's stock worth $734,000 after purchasing an additional 190 shares during the period. TD Private Client Wealth LLC boosted its holdings in shares of GE HealthCare Technologies by 29.3% during the first quarter. TD Private Client Wealth LLC now owns 13,763 shares of the company's stock worth $1,111,000 after acquiring an additional 3,115 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of GE HealthCare Technologies by 5.5% during the first quarter. Envestnet Asset Management Inc. now owns 1,223,217 shares of the company's stock worth $98,726,000 after acquiring an additional 63,445 shares during the period. Meridian Investment Counsel Inc. boosted its holdings in shares of GE HealthCare Technologies by 16.3% during the first quarter. Meridian Investment Counsel Inc. now owns 5,555 shares of the company's stock worth $448,000 after acquiring an additional 780 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of GE HealthCare Technologies by 43.8% during the first quarter. Concurrent Investment Advisors LLC now owns 6,480 shares of the company's stock worth $523,000 after acquiring an additional 1,975 shares during the period. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

GEHC stock traded up $1.04 during midday trading on Thursday, reaching $76.55. 668,559 shares of the company's stock traded hands, compared to its average volume of 3,521,740. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The stock has a market cap of $35.05 billion, a P/E ratio of 16.13, a PEG ratio of 2.53 and a beta of 1.14. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. The stock's 50-day moving average is $72.09 and its 200 day moving average is $77.41.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The firm had revenue of $4.78 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same period in the prior year, the company posted $0.90 earnings per share. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its board has approved a stock buyback plan on Wednesday, April 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, July 25th. This represents a $0.14 annualized dividend and a yield of 0.18%. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.95%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GEHC. Wall Street Zen upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Evercore ISI lowered their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Piper Sandler lowered 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. Wells Fargo & Company lowered their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, Morgan Stanley reduced their price objective on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and an average 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.