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

China Universal Asset Management Co. Ltd. boosted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 111.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,792 shares of the company’s stock after acquiring an additional 3,048 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in GE HealthCare Technologies were worth $544,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GEHC. Vanguard Group Inc. lifted its position in GE HealthCare Technologies by 9.2% during the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after acquiring an additional 4,107,746 shares during the last quarter. Capital Research Global Investors lifted its position in GE HealthCare Technologies by 5.2% during the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock valued at $4,908,406,000 after acquiring an additional 2,647,204 shares during the last quarter. Marshall Wace LLP purchased a new stake in GE HealthCare Technologies during the second quarter valued at approximately $63,639,000. Jacobs Levy Equity Management Inc. lifted its position in GE HealthCare Technologies by 4,959.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock valued at $68,957,000 after acquiring an additional 743,523 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in GE HealthCare Technologies by 10,227.3% during the third quarter. International Assets Investment Management LLC now owns 621,913 shares of the company’s stock valued at $58,367,000 after acquiring an additional 615,891 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the sale, the chief executive officer now owns 17,509 shares in the company, valued at approximately $1,414,377.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GEHC shares. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. Evercore ISI raised their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Wednesday, September 18th. Finally, Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.23.

GE HealthCare Technologies Stock Down 0.8 %

NASDAQ:GEHC opened at $85.27 on Wednesday. The firm has a market capitalization of $38.92 billion, a P/E ratio of 24.93, a PEG ratio of 3.34 and a beta of 1.18. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.55. The company’s fifty day moving average price is $88.46 and its 200-day moving average price is $83.39. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The firm’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the business earned $0.92 earnings per share. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

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.