Public Sector Pension Investment Board Acquires 4,028 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Public Sector Pension Investment Board boosted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 35.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,280 shares of the company’s stock after acquiring an additional 4,028 shares during the quarter. Public Sector Pension Investment Board’s holdings in GE HealthCare Technologies were worth $1,191,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GEHC. Pathway Financial Advisers LLC bought a new stake in shares of GE HealthCare Technologies in the first quarter valued at about $25,000. BNP Paribas bought a new stake in GE HealthCare Technologies in the 1st quarter valued at approximately $30,000. Rise Advisors LLC lifted its stake in GE HealthCare Technologies by 241.4% in the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after acquiring an additional 239 shares during the last quarter. Riverview Trust Co bought a new position in shares of GE HealthCare Technologies in the 1st quarter valued at about $31,000. Finally, Annapolis Financial Services LLC increased its stake in shares of GE HealthCare Technologies by 171.9% during the 1st quarter. Annapolis Financial Services LLC now owns 348 shares of the company’s stock worth $32,000 after purchasing an additional 220 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GEHC has been the topic of a number of recent analyst reports. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective for the company. Stifel Nicolaus increased their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.23.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of the transaction, the chief executive officer now owns 17,509 shares in the company, valued at approximately $1,414,377.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Trading Down 2.3 %

GEHC opened at $91.67 on Wednesday. The company has a market cap of $41.84 billion, a P/E ratio of 26.80, a PEG ratio of 3.40 and a beta of 1.17. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average is $85.60 and its 200-day moving average is $83.28. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.88 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The company’s revenue was up .5% on a year-over-year basis. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s payout ratio is 3.51%.

GE HealthCare Technologies 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.