Canada Pension Plan Investment Board Grows Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Canada Pension Plan Investment Board increased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5,075,130.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 507,523 shares of the company’s stock after buying an additional 507,513 shares during the quarter. Canada Pension Plan Investment Board owned about 0.11% of GE HealthCare Technologies worth $46,139,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GEHC. BNP Paribas purchased a new stake in GE HealthCare Technologies in the first quarter valued at approximately $30,000. Rise Advisors LLC raised its position 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 purchasing an additional 239 shares during the period. Riverview Trust Co purchased a new stake in GE HealthCare Technologies in the first quarter valued at approximately $31,000. Annapolis Financial Services LLC raised its position in GE HealthCare Technologies by 171.9% in the first quarter. Annapolis Financial Services LLC now owns 348 shares of the company’s stock valued at $32,000 after purchasing an additional 220 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in GE HealthCare Technologies in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at GE HealthCare Technologies

In related news, insider Frank R. Jimenez acquired 1,315 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was bought at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the purchase, the insider now directly owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other 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 transaction of $1,649,916.39. Following the completion of the sale, the chief executive officer now owns 63,348 shares in the company, valued at $5,167,296.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Frank R. Jimenez bought 1,315 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $76.52 per share, with a total value of $100,623.80. Following the purchase, the insider now directly owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The disclosure for this purchase can be found here. Insiders sold 90,482 shares of company stock worth $7,369,137 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GEHC shares. Bank of America cut their price objective on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group started coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective on the stock. Mizuho cut their price objective on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Argus upped their price objective on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Evercore ISI upped their price objective on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $94.09.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $80.50 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. The firm has a fifty day moving average price of $78.65 and a 200 day moving average price of $82.18. The company has a market cap of $36.75 billion, a P/E ratio of 23.54, a PEG ratio of 2.90 and a beta of 1.20. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. GE HealthCare Technologies’s revenue for the quarter was down 1.2% on a year-over-year basis. Sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders 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 annualized dividend and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio is presently 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.