Auto Owners Insurance Co Sells 157,751 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Auto Owners Insurance Co lessened its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 80.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,070 shares of the company's stock after selling 157,751 shares during the quarter. Auto Owners Insurance Co's holdings in GE HealthCare Technologies were worth $2,884,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Oak Thistle LLC bought a new stake in shares of GE HealthCare Technologies in the first quarter valued at approximately $1,728,000. Gratus Wealth Advisors LLC boosted its position in shares of GE HealthCare Technologies by 5.7% during the 1st quarter. Gratus Wealth Advisors LLC now owns 8,076 shares of the company's stock worth $652,000 after purchasing an additional 437 shares in the last quarter. Old Port Advisors boosted its position in shares of GE HealthCare Technologies by 25.3% during the 1st quarter. Old Port Advisors now owns 4,098 shares of the company's stock worth $331,000 after purchasing an additional 828 shares in the last quarter. Accredited Investors Inc. increased its position in shares of GE HealthCare Technologies by 14.2% during the first quarter. Accredited Investors Inc. now owns 3,935 shares of the company's stock valued at $318,000 after acquiring an additional 489 shares during the last quarter. Finally, KLP Kapitalforvaltning AS increased its stake in shares of GE HealthCare Technologies by 1.4% during the 1st quarter. KLP Kapitalforvaltning AS now owns 156,579 shares of the company's stock worth $12,638,000 after purchasing an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Stock Up 3.1%

GEHC opened at $76.49 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average of $72.98 and a 200-day moving average of $77.22. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The stock has a market capitalization of $35.02 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 2.50 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. The business had revenue of $4.78 billion for the quarter, compared to analysts' expectations of $4.66 billion. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.90 earnings per share. As a group, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date is Friday, July 25th. GE HealthCare Technologies's dividend payout ratio is presently 2.95%.

GE HealthCare Technologies declared that its board has authorized a stock repurchase program on Wednesday, April 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GEHC shares. Morgan Stanley decreased their price objective on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Citigroup increased their price target on shares of GE HealthCare Technologies from $86.00 to $89.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their target price for the company from $74.00 to $73.00 in a research note on Monday, May 5th. BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Finally, The Goldman Sachs Group lowered their target price on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.55.

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.

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