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

The Manufacturers Life Insurance Company trimmed its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 21.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System raised its holdings in GE HealthCare Technologies by 5,693.1% in the 2nd quarter. California State Teachers Retirement System now owns 40,913,912 shares of the company’s stock valued at $2,618,900,000 after buying an additional 40,207,660 shares during the last quarter. Auto Owners Insurance Co grew its holdings in 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 worth $278,725,000 after acquiring an additional 33,629,559 shares during the last quarter. Norges Bank acquired a new position in GE HealthCare Technologies in the 4th quarter valued at approximately $596,024,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in GE HealthCare Technologies in the 4th quarter valued at approximately $533,655,000. Finally, Cynosure Group LLC raised its stake in shares of 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 valued at $358,055,000 after acquiring an additional 4,344,817 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on GEHC shares. Hovde Group assumed coverage on shares of GE HealthCare Technologies in a research note on Friday, July 17th. They issued a “market perform” rating and a $14.00 price objective on the stock. Evercore reaffirmed an “outperform” rating and set a $84.00 target price on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. Piper Sandler reaffirmed a “buy” rating on shares of GE HealthCare Technologies in a report on Wednesday, July 29th. BTIG Research reiterated a “buy” rating and issued a $79.00 price target on shares of GE HealthCare Technologies in a research report on Wednesday, August 19th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of GE HealthCare Technologies in a research note on Wednesday, August 12th. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Hold” and an average target price of $77.73.

GE HealthCare Technologies Trading Down 1.4%

Shares of GE HealthCare Technologies stock opened at $64.24 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. GE HealthCare Technologies Inc. has a 52 week low of $58.75 and a 52 week high of $89.77. The stock has a 50 day moving average price of $68.40 and a two-hundred day moving average price of $68.46. The stock has a market capitalization of $29.02 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.72 and a beta of 0.70.

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

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, July 24th. GE HealthCare Technologies’s payout ratio is 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.