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

China Universal Asset Management Co. Ltd. lifted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 51.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,295 shares of the company's stock after purchasing 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 quarter.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $488,531,000. Capital Research Global Investors raised its holdings in shares of GE HealthCare Technologies by 4.5% in the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock valued at $4,755,851,000 after acquiring an additional 2,608,066 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of GE HealthCare Technologies by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock worth $4,107,378,000 after purchasing an additional 2,155,429 shares during the period. Eminence Capital LP bought a new position in shares of GE HealthCare Technologies in the 4th quarter worth $102,574,000. Finally, Invesco Ltd. grew its position in shares of GE HealthCare Technologies by 18.4% in the 4th quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock worth $630,751,000 after buying an additional 1,252,613 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the company a "buy" rating in a research note on Monday, April 14th. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Evercore ISI cut 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 dropped their price objective on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped their price objective 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. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $88.55.

GE HealthCare Technologies Trading Up 0.4%

NASDAQ:GEHC traded up $0.31 on Wednesday, reaching $75.51. 2,574,174 shares of the company's stock were exchanged, compared to its average volume of 3,527,418. The firm has a market capitalization of $34.58 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 2.51 and a beta of 1.14. 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 0.76, a current ratio of 0.98 and a debt-to-equity ratio of 0.73. The business has a fifty day moving average of $71.99 and a 200-day moving average of $77.42.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates 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 company's revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 earnings per share. As a group, analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $0.14 annualized dividend and a yield of 0.19%. GE HealthCare Technologies's dividend payout ratio (DPR) is 2.95%.

GE HealthCare Technologies announced that its Board of Directors has initiated a share buyback program on Wednesday, April 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are 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.