Pictet Asset Management Holding SA Sells 11,485 Shares of GE HealthCare Technologies Inc. $GEHC

Pictet Asset Management Holding SA decreased its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 188,398 shares of the company’s stock after selling 11,485 shares during the period. Pictet Asset Management Holding SA’s holdings in GE HealthCare Technologies were worth $13,410,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Auto Owners Insurance Co grew its stake in shares of GE HealthCare Technologies by 9,525.4% during 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. Norges Bank purchased a new position in GE HealthCare Technologies during the fourth quarter valued at approximately $596,024,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in GE HealthCare Technologies during the fourth quarter valued at approximately $533,655,000. Capital Research Global Investors boosted its position in shares of GE HealthCare Technologies by 25.0% in the third quarter. Capital Research Global Investors now owns 24,972,556 shares of the company’s stock worth $1,875,400,000 after purchasing an additional 4,998,154 shares during the period. Finally, Cynosure Group LLC boosted its position in shares of GE HealthCare Technologies by 21,045.4% in the fourth quarter. Cynosure Group LLC now owns 4,365,462 shares of the company’s stock worth $358,055,000 after purchasing an additional 4,344,817 shares during the period. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GEHC. Piper Sandler decreased their price objective on shares of GE HealthCare Technologies from $88.00 to $74.00 in a research report on Thursday, April 30th. Wall Street Zen lowered GE HealthCare Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Wells Fargo & Company cut their price target on GE HealthCare Technologies from $97.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Jefferies Financial Group lowered their price objective on GE HealthCare Technologies from $105.00 to $90.00 in a research report on Thursday, April 30th. Finally, UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $75.00 to $69.00 in a research note on Thursday, May 21st. Ten research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $80.20.

Insider Activity

In other news, insider Frank R. Jimenez bought 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average cost of $60.45 per share, for a total transaction of $105,787.50. Following the completion of the transaction, the insider owned 93,932 shares of the company’s stock, valued at approximately $5,678,189.40. This represents a 1.90% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO James Saccaro purchased 3,310 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were purchased at an average cost of $60.60 per share, with a total value of $200,586.00. Following the completion of the purchase, the chief financial officer owned 87,471 shares of the company’s stock, valued at $5,300,742.60. The trade was a 3.93% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 21,847 shares of company stock valued at $1,361,355. 0.36% of the stock is owned by corporate insiders.

GE HealthCare Technologies Price Performance

GEHC stock opened at $65.57 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 1.22. The company’s fifty day moving average price is $63.82 and its 200-day moving average price is $73.34. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77. The company has a market capitalization of $29.83 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 1.77 and a beta of 0.72.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, April 29th. The company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.08). The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.04 billion. GE HealthCare Technologies had a net margin of 9.10% and a return on equity of 20.46%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 earnings per share. GE HealthCare Technologies has set its FY 2026 guidance at 4.800-5.000 EPS. On average, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.89 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 24th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, July 24th. GE HealthCare Technologies’s dividend payout ratio is 3.35%.

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.