GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 53,653 shares of the company’s stock after selling 1,998 shares during the quarter. Mutual of America Capital Management LLC’s holdings in GE HealthCare Technologies were worth $4,181,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital Research Global Investors boosted its stake in shares of GE HealthCare Technologies by 5.2% in the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock valued at $4,908,406,000 after buying an additional 2,647,204 shares during the period. Vanguard Group Inc. boosted its stake in shares of GE HealthCare Technologies by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after buying an additional 4,107,746 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in GE HealthCare Technologies by 9.4% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock worth $426,186,000 after purchasing an additional 471,910 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in GE HealthCare Technologies by 41.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,875,589 shares of the company’s stock worth $145,021,000 after purchasing an additional 550,612 shares during the last quarter. Finally, Perpetual Ltd purchased a new stake in GE HealthCare Technologies during the first quarter worth approximately $96,135,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Wednesday, September 18th. The Goldman Sachs Group assumed coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They set a “neutral” rating and a $87.00 target price for the company. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 target price for the company. Finally, Stifel Nicolaus assumed coverage on GE HealthCare Technologies in a research note on Tuesday, August 6th. They set a “buy” rating and a $100.00 target price for the company. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

GE HealthCare Technologies Trading Down 0.4 %

GEHC opened at $90.28 on Monday. The firm has a market cap of $41.21 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 3.26 and a beta of 1.17. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The business’s 50 day moving average is $84.06 and its two-hundred day moving average is $83.21. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. On average, research analysts predict that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

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

Insider Activity

In other news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.27% of the company’s stock.

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.