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

Public Sector Pension Investment Board increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1,221.3% in the third quarter, according to the company in 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEHC. Pathway Financial Advisers LLC bought a new position in GE HealthCare Technologies during the first quarter worth about $25,000. LGT Financial Advisors LLC lifted its holdings in shares of GE HealthCare Technologies by 1,673.3% in the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after purchasing an additional 251 shares in the last quarter. Fred Alger Management LLC bought a new stake in shares of GE HealthCare Technologies in the second quarter valued at about $26,000. Capital Performance Advisors LLP bought a new stake in shares of GE HealthCare Technologies in the third quarter valued at about $26,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of GE HealthCare Technologies in the third quarter valued at about $26,000. 82.06% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Roland Rott sold 3,577 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GEHC shares. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Stifel Nicolaus boosted their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. 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. Wells Fargo & Company boosted their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Evercore ISI boosted their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.36.

GE HealthCare Technologies Stock Up 0.6 %

NASDAQ GEHC opened at $83.00 on Friday. The business has a fifty day moving average price of $88.07 and a two-hundred day moving average price of $83.61. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. 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 capitalization of $37.92 billion, a PE ratio of 22.80, a PEG ratio of 2.96 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the prior year, the company earned $0.99 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Equities analysts expect 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 declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is presently 3.30%.

GE HealthCare Technologies Company 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.