GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in GE HealthCare Technologies by 3.8%, acquiring an additional 6,271 shares for a total of 173,361 shares worth approximately $13.99 million.
• Research analysts have recently upgraded GE HealthCare's stock ratings, with a current consensus rating of "Moderate Buy" and a price target of $88.55.
• GE HealthCare Technologies announced a quarterly dividend of $0.035 per share and a $1.00 billion stock buyback program, indicating confidence in the company's valuation.

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 173,361 shares of the company's stock after buying an additional 6,271 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in GE HealthCare Technologies were worth $13,992,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Bogart Wealth LLC boosted its holdings in shares of GE HealthCare Technologies by 260.0% during the first quarter. Bogart Wealth LLC now owns 342 shares of the company's stock worth $28,000 after purchasing an additional 247 shares during the last quarter. Stonebridge Financial Group LLC boosted its holdings in shares of GE HealthCare Technologies by 165.7% during the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 222 shares during the last quarter. LGT Financial Advisors LLC boosted its holdings in shares of 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 purchasing an additional 123 shares during the last quarter. Accredited Wealth Management LLC acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $30,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $31,000. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Stock Down 0.4%

NASDAQ:GEHC traded down $0.32 during mid-day trading on Thursday, hitting $71.32. The company had a trading volume of 6,256,943 shares, compared to its average volume of 3,725,612. The business has a fifty day simple moving average of $73.57 and a 200-day simple moving average of $76.79. The company has a current ratio of 1.16, a quick ratio of 0.76 and a debt-to-equity ratio of 0.85. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year high of $94.80. The firm has a market capitalization of $32.66 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 2.43 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.91 by $0.15. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same period last year, the company posted $1.00 earnings per share. The firm's revenue was up 3.5% compared to the same quarter last year. Equities analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be paid 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 (DPR) is currently 2.95%.

GE HealthCare Technologies announced that its Board of Directors has authorized a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Morgan Stanley decreased their price objective on GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating on the stock in a report on Thursday. The Goldman Sachs Group cut their target price on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their target price for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. BTIG Research reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Finally, Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Three research 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's stock. Based on data from MarketBeat.com, the company 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.