Zurcher Kantonalbank Zurich Cantonalbank Sells 384 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 0.3% during the fourth quarter, HoldingsChannel reports. The firm owned 148,502 shares of the company’s stock after selling 384 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in GE HealthCare Technologies were worth $11,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in GEHC. First Command Advisory Services Inc. increased its holdings in GE HealthCare Technologies by 36,900.0% in the 3rd quarter. First Command Advisory Services Inc. now owns 370 shares of the company’s stock worth $25,000 after acquiring an additional 369 shares during the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in GE HealthCare Technologies in the 2nd quarter worth about $25,000. Legacy Financial Group LLC purchased a new stake in GE HealthCare Technologies in the 3rd quarter worth about $26,000. OFI Invest Asset Management purchased a new stake in GE HealthCare Technologies in the 3rd quarter worth about $26,000. Finally, Resources Management Corp CT ADV purchased a new stake in GE HealthCare Technologies in the 2nd quarter worth about $28,000. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $84.49 on Friday. The business has a 50 day moving average of $88.74 and a 200 day moving average of $77.82. The company has a market capitalization of $38.56 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 2.96 and a beta of 0.94. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.09 billion. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. GE HealthCare Technologies’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 EPS. On average, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be given a $0.03 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.12 annualized dividend and a yield of 0.14%. GE HealthCare Technologies’s payout ratio is currently 3.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GEHC shares. Mizuho lifted their price objective on GE HealthCare Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Citigroup lifted their target price on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lifted their target price for the company from $66.00 to $88.00 in a report on Monday, February 12th. Morgan Stanley lifted their target price on GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Finally, Evercore ISI lifted their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.09.

About GE HealthCare Technologies

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.