Canada Pension Plan Investment Board Decreases Stock Holdings in GE HealthCare Technologies Inc. $GEHC

Canada Pension Plan Investment Board reduced its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 77.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,106,134 shares of the company’s stock after selling 3,872,701 shares during the quarter. Canada Pension Plan Investment Board’s holdings in GE HealthCare Technologies were worth $70,804,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GEHC. Laurel Wealth Advisors LLC purchased a new stake in GE HealthCare Technologies during the fourth quarter valued at $26,000. Godfrey Financial Associates Inc. purchased a new position in shares of GE HealthCare Technologies in the 4th quarter worth $27,000. Montag A & Associates Inc. increased its holdings in shares of GE HealthCare Technologies by 105.4% in the 4th quarter. Montag A & Associates Inc. now owns 341 shares of the company’s stock worth $28,000 after buying an additional 175 shares during the last quarter. Transamerica Financial Advisors LLC increased its holdings in shares of GE HealthCare Technologies by 331.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company’s stock worth $28,000 after buying an additional 262 shares during the last quarter. Finally, Physician Wealth Advisors Inc. raised its position in shares of GE HealthCare Technologies by 60.4% during the 1st quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company’s stock valued at $31,000 after buying an additional 163 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

GEHC stock opened at $72.48 on Friday. GE HealthCare Technologies Inc. has a 12 month low of $58.75 and a 12 month high of $89.77. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average price of $67.47 and a 200 day moving average price of $69.31. The stock has a market cap of $32.74 billion, a PE ratio of 16.62, a P/E/G ratio of 2.12 and a beta of 0.69.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.06 EPS. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 24th were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio is currently 3.21%.

Analysts Set New Price Targets

Several research firms recently commented on GEHC. UBS Group lifted their price target on GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Citigroup upped their price objective on GE HealthCare Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. BMO Capital Markets began coverage on GE HealthCare Technologies in a research note on Wednesday, July 8th. They issued a “market perform” rating and a $70.00 price objective for the company. Jefferies Financial Group dropped their target price on GE HealthCare Technologies from $105.00 to $90.00 in a report on Thursday, April 30th. Finally, HSBC cut their target price on GE HealthCare Technologies from $100.00 to $90.00 in a research report on Thursday, April 30th. Ten equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $77.73.

About GE HealthCare Technologies

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.