Mizuho Securities USA LLC Has $2.96 Million Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Key Points

• Mizuho Securities USA LLC has reduced its holdings in GE HealthCare Technologies by 15.4%, now owning 36,616 shares, valued at approximately $2.96 million.
• The company's stock received a mix of ratings from analysts, with an average rating of "Moderate Buy" and a price target of $88.55.
• GE HealthCare Technologies recently declared a quarterly dividend of $0.035 per share and initiated a $1 billion share repurchase program, indicating the board's confidence in the stock's valuation.

Mizuho Securities USA LLC lessened its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 15.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 36,616 shares of the company's stock after selling 6,685 shares during the period. Mizuho Securities USA LLC's holdings in GE HealthCare Technologies were worth $2,955,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. N.E.W. Advisory Services LLC acquired a new stake in GE HealthCare Technologies during the 1st quarter worth $25,000. Bogart Wealth LLC grew its holdings in GE HealthCare Technologies by 260.0% during the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock worth $28,000 after acquiring an additional 247 shares during the period. Stonebridge Financial Group LLC grew its holdings in shares of GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after buying an additional 222 shares during the period. LGT Financial Advisors LLC grew its holdings in shares of GE HealthCare Technologies by 46.2% in the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after buying an additional 123 shares during the period. Finally, Accredited Wealth Management LLC acquired a new position in shares of GE HealthCare Technologies in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GEHC. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Piper Sandler decreased 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. Morgan Stanley reduced their target price on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. The Goldman Sachs Group reduced 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. Finally, Wells Fargo & Company reduced their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $88.55.

GE HealthCare Technologies Stock Up 1.3%

Shares of NASDAQ:GEHC opened at $72.00 on Monday. The company has a fifty day moving average of $73.62 and a 200-day moving average of $76.04. The company has a market capitalization of $32.87 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 2.75 and a beta of 1.13. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.15. The company had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The company's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 earnings per share. On average, equities analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be issued a dividend of $0.035 per share. The ex-dividend date is Friday, July 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. GE HealthCare Technologies's dividend payout ratio is 2.87%.

GE HealthCare Technologies declared that its Board of Directors has approved a share repurchase program on Wednesday, April 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board 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.

Want to see what other hedge funds are holding GEHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.