iA Global Asset Management Inc. Raises Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

iA Global Asset Management Inc. increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,786 shares of the company’s stock after purchasing an additional 1,843 shares during the quarter. iA Global Asset Management Inc.’s holdings in GE HealthCare Technologies were worth $3,890,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in GE HealthCare Technologies by 49.4% during the fourth quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock worth $93,467,000 after purchasing an additional 399,961 shares during the period. South Dakota Investment Council raised its position in shares of GE HealthCare Technologies by 272.1% in the 4th quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock worth $7,598,000 after buying an additional 71,857 shares during the period. US Bancorp DE increased its stake in GE HealthCare Technologies by 83.4% during the fourth quarter. US Bancorp DE now owns 146,524 shares of the company’s stock worth $11,329,000 after acquiring an additional 66,638 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of GE HealthCare Technologies by 27.2% in the 4th quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock worth $3,551,000 after purchasing an additional 9,809 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of GE HealthCare Technologies by 3.9% in the 4th quarter. Fifth Third Bancorp now owns 33,632 shares of the company’s stock valued at $2,600,000 after purchasing an additional 1,250 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GEHC has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target for the company. Citigroup upped their target price on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Mizuho decreased their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Evercore ISI raised their price objective on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Bank of America dropped their target price on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.09.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock traded down $1.23 during mid-day trading on Thursday, hitting $83.40. 3,560,264 shares of the company’s stock traded hands, compared to its average volume of 3,139,183. 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 Inc. has a one year low of $62.35 and a one year high of $94.50. The firm has a 50 day moving average price of $78.76 and a 200 day moving average price of $82.32. The company has a market cap of $38.07 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 2.97 and a beta of 1.20.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The company’s revenue was up .5% on a year-over-year basis. On average, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.27 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be paid a $0.03 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Insiders Place Their Bets

In related news, CEO Jan Makela sold 66,955 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other GE HealthCare Technologies news, CTO Taha Kass-Hout sold 3,300 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the sale, the chief technology officer now directly owns 67,300 shares in the company, valued at $5,296,510. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jan Makela sold 66,955 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 90,482 shares of company stock worth $7,369,137. Company 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.