GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp lowered its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 42.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 102,200 shares of the company’s stock after selling 75,000 shares during the period. Alberta Investment Management Corp’s holdings in GE HealthCare Technologies were worth $7,902,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in GE HealthCare Technologies by 14.7% during the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after acquiring an additional 5,693,244 shares in the last quarter. Invesco Ltd. grew its holdings in GE HealthCare Technologies by 21.4% during the 3rd quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock worth $343,484,000 after acquiring an additional 889,297 shares in the last quarter. Northern Trust Corp grew its holdings in GE HealthCare Technologies by 8.9% during the 3rd quarter. Northern Trust Corp now owns 4,205,506 shares of the company’s stock worth $286,143,000 after acquiring an additional 342,040 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in GE HealthCare Technologies by 17.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,454,690 shares of the company’s stock worth $267,121,000 after acquiring an additional 504,287 shares in the last quarter. Finally, Norges Bank acquired a new position in GE HealthCare Technologies during the 4th quarter worth approximately $229,052,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on GEHC shares. The Goldman Sachs Group started coverage on shares of GE HealthCare Technologies in a report on Thursday. They set a “neutral” rating and a $87.00 price target for the company. Mizuho lowered their target price 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. Morgan Stanley upped their target price on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. HSBC assumed coverage on shares of GE HealthCare Technologies in a report on Thursday, February 15th. They issued a “buy” rating and a $100.00 target price for the company. Finally, Argus upped their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $94.09.

Insiders Place Their Bets

In other news, CEO Jan Makela sold 20,227 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $81.57, for a total transaction of $1,649,916.39. Following the transaction, the chief executive officer now directly owns 63,348 shares of the company’s stock, valued at approximately $5,167,296.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CTO Taha Kass-Hout sold 3,300 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the transaction, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $1,649,916.39. Following the completion of the sale, the chief executive officer now directly owns 63,348 shares in the company, valued at $5,167,296.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,482 shares of company stock worth $7,369,137. 0.27% of the stock is owned by insiders.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock traded down $0.57 during trading hours on Friday, reaching $78.00. 7,002,138 shares of the stock were exchanged, compared to its average volume of 1,934,543. The stock has a market cap of $35.60 billion, a P/E ratio of 22.81, a P/E/G ratio of 2.83 and a beta of 1.26. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50. The firm’s 50 day moving average is $83.92 and its 200 day moving average is $80.84.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, hitting analysts’ consensus estimates of $0.90. The company 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%. GE HealthCare Technologies’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. Analysts predict that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were given a dividend of $0.03 per share. The ex-dividend date was Thursday, April 18th. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. GE HealthCare Technologies’s payout ratio is currently 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.