Allstate Corp Has $2.68 Million Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• Allstate Corp more than doubled its stake in GE HealthCare Technologies in the fourth quarter, buying an additional 16,365 shares and bringing its total holding to 32,688 shares worth about $2.68 million.
• Institutional ownership remains very high, with 82.06% of GEHC stock held by institutional investors and hedge funds. Several other large investors also increased or initiated positions in the company.
• GE HealthCare reported Q1 EPS of $0.99, missing estimates, even though revenue of $5.13 billion beat expectations and rose 7.4% year over year. Analysts currently view the stock as a Moderate Buy with a consensus price target of $80.21.

Allstate Corp lifted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 100.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,688 shares of the company's stock after purchasing an additional 16,365 shares during the period. Allstate Corp's holdings in GE HealthCare Technologies were worth $2,681,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GEHC. Capital Research Global Investors lifted its position in shares of GE HealthCare Technologies by 25.0% during the third quarter. Capital Research Global Investors now owns 24,972,556 shares of the company's stock worth $1,875,400,000 after purchasing an additional 4,998,154 shares in the last quarter. Dodge & Cox raised its stake in shares of GE HealthCare Technologies by 16.8% during the third quarter. Dodge & Cox now owns 27,517,311 shares of the company's stock worth $2,066,550,000 after buying an additional 3,949,361 shares during the last quarter. Boston Partners bought a new stake in shares of GE HealthCare Technologies during the third quarter worth approximately $287,627,000. Temasek Holdings Private Ltd bought a new stake in shares of GE HealthCare Technologies during the third quarter worth approximately $99,922,000. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of GE HealthCare Technologies by 17.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,432,374 shares of the company's stock worth $633,271,000 after buying an additional 1,232,828 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of recent research reports. Piper Sandler dropped their price target on shares of GE HealthCare Technologies from $88.00 to $74.00 in a research note on Thursday, April 30th. The Goldman Sachs Group downgraded shares of GE HealthCare Technologies from a "buy" rating to a "neutral" rating and lowered their target price for the company from $81.00 to $65.00 in a research note on Thursday, April 30th. Oppenheimer reaffirmed an "outperform" rating and issued a $85.00 target price on shares of GE HealthCare Technologies in a research note on Thursday, April 30th. BTIG Research lowered their target price on shares of GE HealthCare Technologies from $85.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, April 29th. Finally, HSBC lowered their target price on shares of GE HealthCare Technologies from $100.00 to $90.00 in a research note on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $80.21.

Insider Transactions at GE HealthCare Technologies

In other news, Director Rodney F. Hochman purchased 1,618 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $62.03 per share, for a total transaction of $100,364.54. Following the completion of the purchase, the director directly owned 1,618 shares in the company, valued at $100,364.54. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Peter J. Arduini purchased 4,169 shares of the business's stock in a transaction on Thursday, April 30th. The stock was purchased at an average price of $59.92 per share, with a total value of $249,806.48. Following the purchase, the chief executive officer owned 259,424 shares of the company's stock, valued at approximately $15,544,686.08. The trade was a 1.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 21,847 shares of company stock valued at $1,361,355. 0.36% of the stock is owned by company insiders.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $63.88 on Thursday. The stock has a market cap of $29.06 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.45 and a beta of 0.74. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.22 and a quick ratio of 0.95. The company has a fifty day moving average price of $68.03 and a two-hundred day moving average price of $76.03. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.99 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.08). The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.04 billion. GE HealthCare Technologies had a net margin of 9.10% and a return on equity of 20.46%. The business's revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 EPS. GE HealthCare Technologies has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, equities analysts predict that GE HealthCare Technologies Inc. will post 4.89 EPS for the current year.

About GE HealthCare Technologies

GE HealthCare Technologies NASDAQ: GEHC is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.

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