Intech Investment Management LLC Sells 37,273 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Intech Investment Management LLC cut its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHCFree Report) by 7.4% during the 4th quarter, HoldingsChannel reports. The firm owned 469,511 shares of the company’s stock after selling 37,273 shares during the period. Intech Investment Management LLC’s holdings in GE HealthCare Technologies were worth $36,303,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GEHC. Allspring Global Investments Holdings LLC grew its holdings in shares of GE HealthCare Technologies by 2.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 26,418 shares of the company’s stock valued at $1,797,000 after purchasing an additional 675 shares during the last quarter. Private Advisor Group LLC grew its holdings in GE HealthCare Technologies by 20.0% during the 3rd quarter. Private Advisor Group LLC now owns 23,596 shares of the company’s stock worth $1,605,000 after acquiring an additional 3,925 shares during the last quarter. MGO One Seven LLC bought a new stake in GE HealthCare Technologies during the 3rd quarter worth approximately $333,000. ORG Partners LLC grew its holdings in GE HealthCare Technologies by 174.2% during the 3rd quarter. ORG Partners LLC now owns 425 shares of the company’s stock worth $29,000 after acquiring an additional 270 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in GE HealthCare Technologies by 1.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 113,266 shares of the company’s stock worth $7,707,000 after acquiring an additional 1,919 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GEHC has been the topic of a number of research reports. Argus boosted their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Mizuho reduced their target price on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Morgan Stanley boosted their target price on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Citigroup boosted their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, Evercore ISI boosted their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.80.

Get Our Latest Stock Report on GEHC

GE HealthCare Technologies Stock Up 0.7 %

Shares of GE HealthCare Technologies stock traded up $0.52 during trading on Friday, reaching $79.85. 1,433,940 shares of the company traded hands, compared to its average volume of 2,956,483. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50. The company has a 50 day moving average price of $85.12 and a 200-day moving average price of $80.54. The firm has a market capitalization of $36.45 billion, a PE ratio of 23.35, a P/E/G ratio of 2.87 and a beta of 1.26.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the company earned $0.85 EPS. GE HealthCare Technologies’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $0.12 annualized dividend and a yield of 0.15%. GE HealthCare Technologies’s payout ratio is 3.51%.

Insiders Place Their Bets

In other GE HealthCare Technologies news, insider Frank R. Jimenez acquired 1,315 shares of the stock in a transaction on Wednesday, May 1st. The shares were purchased at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the acquisition, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Jan Makela sold 66,955 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $81.54, for a total value of $5,459,510.70. Following the completion of the sale, the chief executive officer now owns 63,348 shares in the company, valued at approximately $5,165,395.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Frank R. Jimenez bought 1,315 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, May 1st. The stock was purchased at an average price of $76.52 per share, with a total value of $100,623.80. Following the purchase, the insider now owns 75,796 shares in the company, valued at $5,799,909.92. The disclosure for this purchase can be found here. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)

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