GE HealthCare Technologies Inc. $GEHC Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lowered its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 148,163 shares of the company’s stock after selling 9,343 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in GE HealthCare Technologies were worth $10,546,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Auto Owners Insurance Co grew its holdings in GE HealthCare Technologies by 9,525.4% during the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock worth $278,725,000 after acquiring an additional 33,629,559 shares during the period. Norges Bank purchased a new position in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $596,024,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in GE HealthCare Technologies in the 4th quarter valued at $533,655,000. Cynosure Group LLC boosted its position in GE HealthCare Technologies by 21,045.4% during the fourth quarter. Cynosure Group LLC now owns 4,365,462 shares of the company’s stock worth $358,055,000 after acquiring an additional 4,344,817 shares during the last quarter. Finally, Boston Partners acquired a new position in shares of GE HealthCare Technologies during the 3rd quarter worth approximately $287,627,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $64.11 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. The company has a fifty day simple moving average of $63.68 and a 200-day simple moving average of $70.80. The stock has a market cap of $29.16 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.66 and a beta of 0.72. GE HealthCare Technologies Inc. has a 12-month low of $58.75 and a 12-month high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, April 29th. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.08). GE HealthCare Technologies had a net margin of 9.10% and a return on equity of 20.46%. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same period last year, the company earned $1.01 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts expect that GE HealthCare Technologies Inc. will post 4.89 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 24th will be given 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 currently 3.35%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Stifel Nicolaus set a $80.00 price target on GE HealthCare Technologies in a report on Wednesday, April 29th. Hovde Group assumed coverage on shares of GE HealthCare Technologies in a research note on Friday, July 17th. They set a “market perform” rating and a $14.00 target price for the company. BTIG Research reaffirmed a “buy” rating and set a $75.00 price objective on shares of GE HealthCare Technologies in a research report on Monday, July 13th. Barclays decreased their price target on GE HealthCare Technologies from $87.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Finally, Wells Fargo & Company lowered their price target on GE HealthCare Technologies from $97.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $76.41.

Insiders Place Their Bets

In other GE HealthCare Technologies news, Director Rodney F. Hochman purchased 1,618 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $62.03 per share, with a total value of $100,364.54. Following the completion of the acquisition, the director directly owned 1,618 shares of the company’s stock, valued at $100,364.54. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kevin Lobo acquired 10,000 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $64.18 per share, for a total transaction of $641,800.00. Following the acquisition, the director owned 14,363 shares of the company’s stock, valued at $921,817.34. This represents a 229.20% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 21,847 shares of company stock worth $1,361,355. 0.36% of the stock is currently owned by company insiders.

GE HealthCare Technologies Profile

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.