Public Sector Pension Investment Board Has $18.95 Million Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Public Sector Pension Investment Board boosted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1,221.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 201,895 shares of the company’s stock after purchasing an additional 186,615 shares during the period. Public Sector Pension Investment Board’s holdings in GE HealthCare Technologies were worth $18,948,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GEHC. B. Riley Wealth Advisors Inc. increased its holdings in GE HealthCare Technologies by 17.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 7,404 shares of the company’s stock valued at $673,000 after purchasing an additional 1,074 shares during the period. Plato Investment Management Ltd acquired a new stake in GE HealthCare Technologies during the 1st quarter worth about $206,000. Sanibel Captiva Trust Company Inc. grew its holdings in GE HealthCare Technologies by 7.9% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 3,114 shares of the company’s stock worth $283,000 after acquiring an additional 228 shares during the period. Swedbank AB acquired a new stake in GE HealthCare Technologies during the 1st quarter worth about $6,138,000. Finally, Atria Investments Inc acquired a new stake in GE HealthCare Technologies during the 1st quarter worth about $1,300,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $83.00 on Friday. GE HealthCare Technologies Inc. has a fifty-two week low of $66.39 and a fifty-two week high of $94.55. The stock has a market cap of $37.92 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 2.96 and a beta of 1.24. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The firm’s 50-day simple moving average is $88.07 and its 200 day simple moving average is $83.61.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter last year, the firm earned $0.99 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.30%.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GEHC shares. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Stifel Nicolaus increased their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Wednesday, September 18th. Evercore ISI raised their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company raised their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.36.

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.