Auto Owners Insurance Co Has $26.15 Million Stock Position in GE HealthCare Technologies Inc. $GEHC

Auto Owners Insurance Co boosted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 803.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 353,051 shares of the company’s stock after buying an additional 313,981 shares during the quarter. Auto Owners Insurance Co owned approximately 0.08% of GE HealthCare Technologies worth $26,150,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Glenview Trust co boosted its stake in GE HealthCare Technologies by 4.4% in the first quarter. Glenview Trust co now owns 3,294 shares of the company’s stock valued at $266,000 after buying an additional 139 shares in the last quarter. Silver Oak Securities Incorporated boosted its stake in GE HealthCare Technologies by 4.6% in the second quarter. Silver Oak Securities Incorporated now owns 3,183 shares of the company’s stock valued at $236,000 after buying an additional 140 shares in the last quarter. Chicago Capital LLC boosted its stake in GE HealthCare Technologies by 2.2% in the second quarter. Chicago Capital LLC now owns 6,551 shares of the company’s stock valued at $485,000 after buying an additional 141 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in GE HealthCare Technologies by 4.2% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 3,557 shares of the company’s stock valued at $263,000 after buying an additional 143 shares in the last quarter. Finally, Knuff & Co LLC boosted its stake in GE HealthCare Technologies by 1.5% in the first quarter. Knuff & Co LLC now owns 10,276 shares of the company’s stock valued at $829,000 after buying an additional 150 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $79.40 on Wednesday. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year high of $94.80. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. The company has a market capitalization of $36.25 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 2.99 and a beta of 1.13. The business has a 50-day moving average of $74.99 and a 200-day moving average of $72.80.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.15. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The company had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.96 billion. During the same period last year, the company earned $1.00 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, October 24th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 2.87%.

Analysts Set New Price Targets

Several research firms recently weighed in on GEHC. Morgan Stanley set a $74.00 price objective on GE HealthCare Technologies in a research note on Thursday, September 18th. Barclays initiated coverage on GE HealthCare Technologies in a research report on Monday, October 13th. They issued an “equal weight” rating and a $86.00 target price for the company. Citigroup downgraded GE HealthCare Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the company from $93.00 to $83.00 in a research report on Tuesday, October 7th. Wall Street Zen downgraded GE HealthCare Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, September 20th. Finally, Zacks Research downgraded GE HealthCare Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.20.

About GE HealthCare Technologies

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.