UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,325,096 shares of the company’s stock after acquiring an additional 416,386 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.73% of GE HealthCare Technologies worth $259,956,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GEHC. JPMorgan Chase & Co. raised its position in GE HealthCare Technologies by 29.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company’s stock worth $209,624,000 after purchasing an additional 512,778 shares during the period. Park Avenue Securities LLC raised its holdings in shares of GE HealthCare Technologies by 9.7% in the fourth quarter. Park Avenue Securities LLC now owns 4,450 shares of the company’s stock worth $348,000 after buying an additional 392 shares during the period. Merit Financial Group LLC lifted its stake in shares of GE HealthCare Technologies by 3.4% during the 4th quarter. Merit Financial Group LLC now owns 8,820 shares of the company’s stock worth $690,000 after acquiring an additional 292 shares during the last quarter. HB Wealth Management LLC boosted its holdings in GE HealthCare Technologies by 24.5% during the 4th quarter. HB Wealth Management LLC now owns 8,366 shares of the company’s stock valued at $654,000 after acquiring an additional 1,645 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in GE HealthCare Technologies by 17.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 54,529 shares of the company’s stock valued at $4,263,000 after acquiring an additional 7,994 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Down 3.2%

GEHC opened at $69.58 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The firm has a market cap of $31.86 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 3.19 and a beta of 1.21. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The stock has a fifty day moving average price of $70.62 and a 200-day moving average price of $79.89.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 earnings per share. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies declared that its board has initiated a stock buyback program on Wednesday, April 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.20%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 2.95%.

Wall Street Analyst Weigh In

GEHC has been the subject of several research analyst reports. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. Evercore ISI lowered their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the stock a “buy” rating in a research report on Monday, April 14th. Morgan Stanley decreased their price target on shares of 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. Finally, Citigroup reduced their price objective on GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.