The Manufacturers Life Insurance Company Purchases 189,956 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

The Manufacturers Life Insurance Company increased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 18.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,245,961 shares of the company’s stock after purchasing an additional 189,956 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in GE HealthCare Technologies were worth $97,088,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GEHC. Pathway Financial Advisers LLC acquired a new stake in shares of GE HealthCare Technologies during the 1st quarter valued at about $25,000. BNP Paribas bought a new stake in shares of GE HealthCare Technologies in the 1st quarter valued at approximately $30,000. Fred Alger Management LLC acquired a new position in shares of GE HealthCare Technologies in the 2nd quarter worth approximately $26,000. Rise Advisors LLC boosted its stake in GE HealthCare Technologies by 241.4% in the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after buying an additional 239 shares in the last quarter. Finally, Riverview Trust Co bought a new position in shares of GE HealthCare Technologies during the first quarter valued at $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

GEHC has been the topic of several research analyst reports. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective on the stock. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Wednesday, September 18th. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $84.00 to $74.00 in a research report on Thursday. Finally, Stifel Nicolaus initiated coverage on shares of GE HealthCare Technologies in a research note on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.92.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $91.99 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. The firm has a market cap of $41.99 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 3.40 and a beta of 1.17. The business’s 50 day moving average price is $85.13 and its two-hundred day moving average price is $83.32. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. During the same period in the previous year, the company posted $0.92 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

GE HealthCare Technologies Profile

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.