Auto Owners Insurance Co Purchases 33,629,559 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• Auto Owners Insurance Co dramatically increased its stake in GE HealthCare Technologies, buying 33.6 million additional shares and lifting its holdings to 33.98 million shares, or about 7.46% of the company.
• GE HealthCare reported Q1 earnings of $0.99 per share, missing analyst expectations, though revenue of $5.13 billion came in above estimates and rose 7.4% year over year.
• Despite mixed results, Wall Street remains divided but constructive overall, with analysts holding a Moderate Buy consensus and an average price target of $80.21, while several insiders also bought shares recently.

Auto Owners Insurance Co raised its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 9,525.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,982,610 shares of the company's stock after purchasing an additional 33,629,559 shares during the quarter. Auto Owners Insurance Co owned 7.46% of GE HealthCare Technologies worth $278,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the stock. Western Wealth Management LLC increased its holdings in GE HealthCare Technologies by 2.4% in the 4th quarter. Western Wealth Management LLC now owns 5,240 shares of the company's stock worth $430,000 after acquiring an additional 125 shares during the last quarter. United Community Bank raised its position in shares of GE HealthCare Technologies by 10.2% in the fourth quarter. United Community Bank now owns 1,410 shares of the company's stock valued at $116,000 after purchasing an additional 130 shares during the period. Parkside Financial Bank & Trust raised its position in shares of GE HealthCare Technologies by 3.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,567 shares of the company's stock valued at $293,000 after purchasing an additional 134 shares during the period. Thoma Capital Management LLC lifted its stake in shares of GE HealthCare Technologies by 1.4% during the 4th quarter. Thoma Capital Management LLC now owns 9,918 shares of the company's stock valued at $814,000 after buying an additional 136 shares in the last quarter. Finally, Colonial Trust Advisors grew its stake in GE HealthCare Technologies by 11.1% in the 3rd quarter. Colonial Trust Advisors now owns 1,391 shares of the company's stock valued at $104,000 after buying an additional 139 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $61.59 on Friday. The firm has a market capitalization of $28.02 billion, a PE ratio of 14.73, a P/E/G ratio of 1.68 and a beta of 0.74. The stock's 50 day moving average is $65.48 and its 200 day moving average is $74.59. GE HealthCare Technologies Inc. has a twelve month low of $58.75 and a twelve month high of $89.77. The company has a quick ratio of 0.95, a current ratio of 1.22 and a debt-to-equity ratio of 0.95.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Piper Sandler reduced their target price on GE HealthCare Technologies from $88.00 to $74.00 in a report on Thursday, April 30th. Oppenheimer restated an "outperform" rating and issued a $85.00 price objective on shares of GE HealthCare Technologies in a research report on Thursday, April 30th. Wall Street Zen cut shares of GE HealthCare Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, March 21st. Wells Fargo & Company decreased their target price on shares of GE HealthCare Technologies from $97.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Finally, Stifel Nicolaus set a $80.00 target price on shares of GE HealthCare Technologies in a research note on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.21.

Insider Buying and Selling at GE HealthCare Technologies

In related news, Director Watkin Phoebe L. Yang bought 1,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average cost of $63.01 per share, for a total transaction of $63,010.00. Following the completion of the transaction, the director owned 13,702 shares of the company's stock, valued at approximately $863,363.02. This trade represents a 7.87% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Peter J. Arduini bought 4,169 shares of GE HealthCare Technologies stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average cost of $59.92 per share, with a total value of $249,806.48. Following the completion of the acquisition, the chief executive officer directly owned 259,424 shares in the company, valued at $15,544,686.08. This represents a 1.63% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 21,847 shares of company stock worth $1,361,355. 0.36% of the stock is owned by corporate insiders.

GE HealthCare Technologies Company Profile

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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