Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,338 shares of the company’s stock after buying an additional 4,579 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in GE HealthCare Technologies were worth $12,026,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. US Bancorp DE increased its position in GE HealthCare Technologies by 83.4% during the 4th quarter. US Bancorp DE now owns 146,524 shares of the company’s stock valued at $11,329,000 after purchasing an additional 66,638 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in GE HealthCare Technologies by 23.7% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 97,127 shares of the company’s stock worth $7,510,000 after buying an additional 18,634 shares during the last quarter. Global Assets Advisory LLC purchased a new position in GE HealthCare Technologies in the 1st quarter worth about $4,273,000. Vanguard Group Inc. raised its position in GE HealthCare Technologies by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after buying an additional 4,107,746 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in GE HealthCare Technologies by 21.1% in the 4th quarter. Hsbc Holdings PLC now owns 470,993 shares of the company’s stock worth $36,408,000 after buying an additional 81,916 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GEHC. Mizuho decreased their target price on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Stifel Nicolaus began coverage on GE HealthCare Technologies in a research report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 target price for the company. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group initiated coverage on shares of GE HealthCare Technologies in a research report on Thursday, May 30th. They set a “neutral” rating and a $87.00 price target for the company. Finally, Bank of America reduced their target price on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Insiders Place Their Bets

In other news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by insiders.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock traded up $0.15 during trading hours on Thursday, hitting $84.08. The company’s stock had a trading volume of 1,264,665 shares, compared to its average volume of 2,974,027. The business has a 50 day moving average price of $81.23 and a two-hundred day moving average price of $83.47. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50. The company has a market cap of $38.38 billion, a PE ratio of 24.58, a PEG ratio of 3.00 and a beta of 1.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.06.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share. Analysts expect that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were paid a dividend of $0.03 per share. The ex-dividend date was Friday, July 19th. This represents a $0.12 annualized dividend and a yield of 0.14%. GE HealthCare Technologies’s payout ratio is currently 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.