Gateway Investment Advisers LLC Trims Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Gateway Investment Advisers LLC lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHCFree Report) by 17.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 31,777 shares of the company’s stock after selling 6,600 shares during the period. Gateway Investment Advisers LLC’s holdings in GE HealthCare Technologies were worth $2,889,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Capital Research Global Investors grew its stake in shares of GE HealthCare Technologies by 2.8% during the fourth quarter. Capital Research Global Investors now owns 51,344,719 shares of the company’s stock worth $3,969,975,000 after purchasing an additional 1,401,566 shares in the last quarter. Vanguard Group Inc. lifted its position in GE HealthCare Technologies by 14.7% in the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock valued at $3,029,917,000 after acquiring an additional 5,693,244 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in GE HealthCare Technologies by 9.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock valued at $426,186,000 after acquiring an additional 471,910 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in GE HealthCare Technologies by 17.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,454,690 shares of the company’s stock valued at $267,121,000 after acquiring an additional 504,287 shares during the last quarter. Finally, Norges Bank purchased a new stake in GE HealthCare Technologies in the fourth quarter valued at $229,052,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Analysis on GE HealthCare Technologies

Insiders Place Their Bets

In other news, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total value of $259,710.00. Following the transaction, the chief technology officer now owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jan Makela sold 66,955 shares of the business’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 transaction of $5,459,510.70. Following the transaction, the chief executive officer now directly owns 63,348 shares of the company’s stock, valued at $5,165,395.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction that occurred 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 completion of the sale, the chief technology officer now owns 67,300 shares of the company’s stock, valued at $5,296,510. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,482 shares of company stock worth $7,369,137. 0.27% of the stock is owned by corporate insiders.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC traded down $0.09 during mid-day trading on Tuesday, hitting $78.76. The stock had a trading volume of 283,564 shares, compared to its average volume of 3,146,491. The stock has a market capitalization of $35.95 billion, a price-to-earnings ratio of 23.06, a P/E/G ratio of 2.85 and a beta of 1.22. The company has a 50 day simple moving average of $80.39 and a 200-day simple moving average of $81.66. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the previous year, the firm earned $0.85 EPS. GE HealthCare Technologies’s revenue was down 1.2% on a year-over-year basis. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)

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