China Universal Asset Management Co. Ltd. Has $912,000 Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

China Universal Asset Management Co. Ltd. increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 51.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,295 shares of the company's stock after buying an additional 3,860 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in GE HealthCare Technologies were worth $912,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GEHC. CoreFirst Bank & Trust acquired a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at $25,000. Runnymede Capital Advisors Inc. bought a new position in GE HealthCare Technologies during the 4th quarter valued at about $28,000. Stonebridge Financial Group LLC boosted its position in GE HealthCare Technologies by 165.7% in 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 in the last quarter. LGT Financial Advisors LLC grew its stake 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 buying an additional 123 shares during the last quarter. Finally, Accredited Wealth Management LLC acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GEHC. Piper Sandler decreased their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Evercore ISI decreased their target price on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their price target for the company from $74.00 to $73.00 in a report on Monday, May 5th. Wells Fargo & Company decreased their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, The Goldman Sachs Group dropped their target price on shares of 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. Three 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.55.

GE HealthCare Technologies Trading Up 1.3%

GEHC stock traded up $0.99 during midday trading on Thursday, reaching $76.50. The company's stock had a trading volume of 2,738,454 shares, compared to its average volume of 3,533,970. The business's 50-day simple moving average is $72.27 and its 200-day simple moving average is $77.39. The company has a quick ratio of 0.76, a current ratio of 0.98 and a debt-to-equity ratio of 0.73. 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 $35.03 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 2.54 and a beta of 1.14.

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

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be given a $0.035 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. GE HealthCare Technologies's dividend payout ratio is 2.95%.

GE HealthCare Technologies declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

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.