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

The Manufacturers Life Insurance Company lowered its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 21.4% during the second quarter, Holdings Channel reports. The institutional investor owned 2,633,893 shares of the company’s stock after selling 717,905 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in GE HealthCare Technologies were worth $168,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in GE HealthCare Technologies by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 52,275,767 shares of the company’s stock worth $4,287,658,000 after purchasing an additional 267,058 shares in the last quarter. Auto Owners Insurance Co boosted 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 valued at $278,725,000 after purchasing an additional 33,629,559 shares in the last quarter. Dodge & Cox grew its stake in shares of GE HealthCare Technologies by 13.4% in the 4th quarter. Dodge & Cox now owns 31,211,229 shares of the company’s stock valued at $2,559,945,000 after purchasing an additional 3,693,918 shares during the period. Capital Research Global Investors grew its stake in shares of GE HealthCare Technologies by 1.6% in the 4th quarter. Capital Research Global Investors now owns 25,362,352 shares of the company’s stock valued at $2,080,248,000 after purchasing an additional 389,796 shares during the period. Finally, State Street Corp raised its holdings in shares of GE HealthCare Technologies by 2.0% in the 4th quarter. State Street Corp now owns 20,049,677 shares of the company’s stock worth $1,644,475,000 after buying an additional 401,932 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

GEHC has been the subject of several analyst reports. BMO Capital Markets started coverage on GE HealthCare Technologies in a research report on Wednesday, July 8th. They set a “market perform” rating and a $70.00 target price for the company. Hovde Group started coverage on GE HealthCare Technologies in a report on Friday, July 17th. They set a “market perform” rating and a $14.00 price objective for the company. HSBC reduced their target price on shares of GE HealthCare Technologies from $100.00 to $90.00 in a research note on Thursday, April 30th. BNP Paribas Exane dropped their target price on shares of GE HealthCare Technologies from $95.00 to $88.00 in a research report on Friday, May 1st. Finally, Barclays reduced their price target on shares of GE HealthCare Technologies from $87.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $77.73.

GE HealthCare Technologies Trading Down 0.8%

Shares of NASDAQ GEHC opened at $74.19 on Tuesday. GE HealthCare Technologies Inc. has a 1-year low of $58.75 and a 1-year high of $89.77. The company has a market cap of $33.51 billion, a PE ratio of 17.02, a P/E/G ratio of 2.16 and a beta of 0.69. 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 of $66.80 and a two-hundred day moving average of $69.49.

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

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were issued a dividend of $0.035 per share. 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 currently 3.21%.

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.