KBC Group NV Sells 133,857 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

KBC Group NV lowered its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 64.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,983 shares of the company's stock after selling 133,857 shares during the quarter. KBC Group NV's holdings in GE HealthCare Technologies were worth $5,971,000 as of its most recent SEC filing.

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

GE HealthCare Technologies Stock Up 0.0%

Shares of GEHC stock traded up $0.03 during trading on Friday, reaching $76.15. The company's stock had a trading volume of 1,800,530 shares, compared to its average volume of 3,523,766. The business has a fifty day moving average price of $71.72 and a 200-day moving average price of $77.47. 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 company has a market cap of $34.87 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80.

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. 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 for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The company's quarterly revenue was up 2.7% compared to the same quarter last year. Analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies announced that its board has initiated 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 repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The company also recently declared 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. This represents a $0.14 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Friday, July 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.95%.

Wall Street Analyst Weigh In

GEHC has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the company a "buy" rating in a report on Monday, April 14th. Citigroup reduced their price target on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company reduced 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, UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and reduced their price target for the company from $74.00 to $73.00 in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.27.

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.