The Manufacturers Life Insurance Company Sells 717,905 Shares of GE HealthCare Technologies Inc. $GEHC

The Manufacturers Life Insurance Company trimmed its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 21.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,633,893 shares of the company’s stock after selling 717,905 shares during the period. The Manufacturers Life Insurance Company owned 0.58% of GE HealthCare Technologies worth $168,595,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise boosted its holdings in shares of GE HealthCare Technologies by 16,539.1% during the 1st quarter. Banque Cantonale Vaudoise now owns 25,957 shares of the company’s stock worth $1,849,000 after buying an additional 25,801 shares during the period. Allstate Corp raised its holdings in GE HealthCare Technologies by 100.3% in the 4th quarter. Allstate Corp now owns 32,688 shares of the company’s stock valued at $2,681,000 after acquiring an additional 16,365 shares during the period. Auto Owners Insurance Co raised its holdings in GE HealthCare Technologies by 9,525.4% in the 4th quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock valued at $278,725,000 after acquiring an additional 33,629,559 shares during the period. Northside Capital Management LLC lifted its position in GE HealthCare Technologies by 26.5% during the second quarter. Northside Capital Management LLC now owns 241,923 shares of the company’s stock worth $15,485,000 after acquiring an additional 50,634 shares during the last quarter. Finally, Boston Partners lifted its position in GE HealthCare Technologies by 21.7% during the fourth quarter. Boston Partners now owns 4,659,562 shares of the company’s stock worth $382,223,000 after acquiring an additional 830,626 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Piper Sandler reiterated a “buy” rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. BMO Capital Markets assumed coverage on GE HealthCare Technologies in a research note on Wednesday, July 8th. They issued a “market perform” rating and a $70.00 price target for the company. Wells Fargo & Company upped their price objective on GE HealthCare Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of GE HealthCare Technologies in a research report on Wednesday, August 12th. Finally, Zacks Research raised GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Ten equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, GE HealthCare Technologies has an average rating of “Hold” and an average price target of $77.73.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $64.24 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.92. The stock has a market cap of $29.02 billion, a PE ratio of 14.73, a P/E/G ratio of 1.72 and a beta of 0.70. GE HealthCare Technologies Inc. has a 12-month low of $58.75 and a 12-month high of $89.77. The business’s 50-day moving average price is $68.40 and its two-hundred day moving average price is $68.46.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the prior year, the business earned $1.06 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, analysts expect that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 24th were paid a $0.035 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $0.14 annualized dividend and a yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio is presently 3.21%.

GE HealthCare Technologies Profile

GE HealthCare Technologies Inc is a global medical technology, pharmaceutical diagnostics and digital solutions company headquartered in Chicago, Illinois. The company provides products and services designed to support healthcare providers across diagnostic imaging, clinical care and treatment planning.

Its portfolio includes imaging systems such as magnetic resonance imaging, computed tomography, molecular imaging, X-ray and surgical imaging equipment. GE HealthCare also offers ultrasound systems, patient monitoring and care solutions, anesthesia delivery and respiratory care products, maternal and infant care technologies, and healthcare information technology.

The company’s Pharmaceutical Diagnostics business develops and supplies contrast media and radiopharmaceuticals used to enhance medical imaging and support the detection and monitoring of disease.