China Universal Asset Management Co. Ltd. Purchases 3,860 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

China Universal Asset Management Co. Ltd. grew its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 51.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,295 shares of the company's stock after acquiring 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 SEC filing.

Other large investors have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new stake in GE HealthCare Technologies during the 4th quarter worth about $20,891,000. Breakwater Capital Group acquired a new stake in GE HealthCare Technologies during the 1st quarter worth about $210,000. Flagship Harbor Advisors LLC grew its holdings in GE HealthCare Technologies by 17.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company's stock worth $278,000 after acquiring an additional 511 shares during the period. Bessemer Group Inc. grew its holdings in GE HealthCare Technologies by 24.3% during the 1st quarter. Bessemer Group Inc. now owns 6,671 shares of the company's stock worth $538,000 after acquiring an additional 1,306 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in GE HealthCare Technologies by 23.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company's stock worth $4,105,000 after acquiring an additional 9,769 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Down 1.8%

GEHC stock traded down $1.37 during mid-day trading on Friday, reaching $75.13. 1,882,328 shares of the company traded hands, compared to its average volume of 3,527,446. The stock has a market cap of $34.40 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 2.54 and a beta of 1.14. 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 fifty-two week low of $57.65 and a fifty-two week high of $94.80. The firm's 50 day moving average price is $72.27 and its 200 day moving average price is $77.39.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. The business had revenue of $4.78 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies declared that its board has approved a stock buyback program on Wednesday, April 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.19%. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GEHC. Wells Fargo & Company decreased their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and reduced their target price for the company from $74.00 to $73.00 in a research note on Monday, May 5th. Citigroup raised their target price on GE HealthCare Technologies from $86.00 to $89.00 and gave the company a "buy" rating in a research note on Wednesday. The Goldman Sachs Group reduced their target price on 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. Finally, Morgan Stanley reduced their target price on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $88.55.

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.