Healthcare of Ontario Pension Plan Trust Fund Sells 9,343 Shares of GE HealthCare Technologies Inc. $GEHC

Healthcare of Ontario Pension Plan Trust Fund decreased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 148,163 shares of the company’s stock after selling 9,343 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in GE HealthCare Technologies were worth $10,546,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in shares of GE HealthCare Technologies during the 1st quarter worth $18,087,000. Gamco Investors INC. ET AL lifted its position in shares of GE HealthCare Technologies by 5.0% in the first quarter. Gamco Investors INC. ET AL now owns 4,232 shares of the company’s stock valued at $301,000 after acquiring an additional 202 shares in the last quarter. Morningstar Investment Management LLC boosted its stake in GE HealthCare Technologies by 8.7% in the 1st quarter. Morningstar Investment Management LLC now owns 53,940 shares of the company’s stock worth $3,839,000 after purchasing an additional 4,323 shares during the period. Klingman & Associates LLC lifted its holdings in shares of GE HealthCare Technologies by 6.8% in the first quarter. Klingman & Associates LLC now owns 3,985 shares of the company’s stock worth $284,000 after buying an additional 253 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of GE HealthCare Technologies during the first quarter worth $6,664,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

GEHC stock opened at $64.11 on Wednesday. GE HealthCare Technologies Inc. has a 52 week low of $58.75 and a 52 week high of $89.77. The company has a quick ratio of 0.95, a current ratio of 1.22 and a debt-to-equity ratio of 0.95. The company has a fifty day simple moving average of $63.68 and a two-hundred day simple moving average of $70.80. The firm has a market capitalization of $29.16 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.66 and a beta of 0.72.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, April 29th. The company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). GE HealthCare Technologies had a return on equity of 20.46% and a net margin of 9.10%.The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Analysts anticipate that GE HealthCare Technologies Inc. will post 4.89 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 24th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, July 24th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.35%.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Peter J. Arduini acquired 4,169 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were bought at an average price of $59.92 per share, with a total value of $249,806.48. Following the transaction, the chief executive officer directly owned 259,424 shares of the company’s stock, valued at $15,544,686.08. The trade was a 1.63% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Watkin Phoebe L. Yang acquired 1,000 shares of the stock in a transaction on Friday, May 8th. The stock was bought at an average cost of $63.01 per share, with a total value of $63,010.00. Following the completion of the transaction, the director owned 13,702 shares in the company, valued at $863,363.02. This trade represents a 7.87% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 21,847 shares of company stock worth $1,361,355 in the last ninety days. Corporate insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group reiterated a “neutral” rating on shares of GE HealthCare Technologies in a research note on Monday, June 8th. Piper Sandler cut their price objective on GE HealthCare Technologies from $88.00 to $74.00 in a research report on Thursday, April 30th. Evercore set a $80.00 target price on GE HealthCare Technologies in a report on Thursday, April 30th. BMO Capital Markets began coverage on GE HealthCare Technologies in a research report on Wednesday, July 8th. They issued a “market perform” rating and a $70.00 target price on the stock. Finally, UBS Group dropped their price target on GE HealthCare Technologies from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $76.41.

About GE HealthCare Technologies

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.