Intech Investment Management LLC Sells 368,267 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Intech Investment Management LLC lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 78.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 101,244 shares of the company’s stock after selling 368,267 shares during the quarter. Intech Investment Management LLC’s holdings in GE HealthCare Technologies were worth $9,204,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Pinnacle Wealth Planning Services Inc. purchased a new position in GE HealthCare Technologies in the 1st quarter valued at approximately $220,000. M&G Plc purchased a new position in GE HealthCare Technologies in the 1st quarter valued at approximately $6,905,000. Great Lakes Retirement Inc. purchased a new position in GE HealthCare Technologies in the 1st quarter valued at approximately $308,000. Dorsey & Whitney Trust CO LLC grew its stake in GE HealthCare Technologies by 14.2% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 6,722 shares of the company’s stock valued at $611,000 after buying an additional 837 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its stake in GE HealthCare Technologies by 79.5% in the 1st quarter. Orion Portfolio Solutions LLC now owns 40,584 shares of the company’s stock valued at $3,690,000 after buying an additional 17,970 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GEHC shares. Evercore ISI boosted their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Citigroup boosted their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Mizuho reduced their price target on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Argus boosted their price target on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Bank of America reduced their price target on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.09.

GE HealthCare Technologies Price Performance

NASDAQ:GEHC traded down $0.51 during midday trading on Friday, hitting $80.44. The company had a trading volume of 2,428,375 shares, compared to its average volume of 2,743,324. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50. The stock’s fifty day moving average price is $78.74 and its 200-day moving average price is $82.05. The company has a market capitalization of $36.72 billion, a PE ratio of 23.52, a P/E/G ratio of 2.89 and a beta of 1.20. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, hitting the consensus estimate of $0.90. The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.80 billion. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. As a group, research analysts expect that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.51%.

Insider Activity

In related news, CEO Jan Makela sold 20,227 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $81.57, for a total value of $1,649,916.39. Following the completion of the transaction, the chief executive officer now directly owns 63,348 shares of the company’s stock, valued at $5,167,296.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Jan Makela sold 20,227 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $81.57, for a total value of $1,649,916.39. Following the completion of the transaction, the chief executive officer now directly owns 63,348 shares of the company’s stock, valued at $5,167,296.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frank R. Jimenez purchased 1,315 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average cost of $76.52 per share, with a total value of $100,623.80. Following the completion of the purchase, the insider now owns 75,796 shares of the company’s stock, valued at $5,799,909.92. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 90,482 shares of company stock valued at $7,369,137. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Company 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.