The Manufacturers Life Insurance Company Purchases 12,067 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• The Manufacturers Life Insurance Company increased its ownership in GE HealthCare Technologies by 1.2% in the first quarter, holding approximately 982,765 shares valued at $79.3 million.
• Various institutional investors have recently invested in GE HealthCare Technologies, with notable increases from firms like Bessemer Group Inc. (up 24.3%) and Farther Finance Advisors LLC (up 52.7%).
• GE HealthCare Technologies reported $1.06 earnings per share for the last quarter, exceeding analyst expectations, and announced a quarterly dividend of $0.035 per share.

The Manufacturers Life Insurance Company raised its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 982,765 shares of the company's stock after purchasing an additional 12,067 shares during the quarter. The Manufacturers Life Insurance Company owned 0.21% of GE HealthCare Technologies worth $79,319,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GEHC. Magnetar Financial LLC purchased a new stake in shares of GE HealthCare Technologies in the 1st quarter worth $861,000. Canada Pension Plan Investment Board lifted its stake in GE HealthCare Technologies by 15.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,111,398 shares of the company's stock worth $251,121,000 after purchasing an additional 409,636 shares in the last quarter. Trexquant Investment LP grew its holdings in GE HealthCare Technologies by 274.6% during the 1st quarter. Trexquant Investment LP now owns 229,836 shares of the company's stock valued at $18,550,000 after buying an additional 168,475 shares in the last quarter. Okabena Investment Services Inc. purchased a new stake in GE HealthCare Technologies during the first quarter valued at $1,121,000. Finally, RB Capital Management LLC lifted its holdings in shares of GE HealthCare Technologies by 15.0% in the 1st quarter. RB Capital Management LLC now owns 4,924 shares of the company's stock valued at $397,000 after acquiring an additional 643 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC traded up $0.78 during mid-day trading on Wednesday, reaching $72.38. The stock had a trading volume of 3,544,732 shares, compared to its average volume of 3,968,329. The business has a 50 day simple moving average of $74.27 and a 200 day simple moving average of $74.40. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16. The firm has a market capitalization of $33.05 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 2.82 and a beta of 1.13. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.15. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same period in the prior year, the firm posted $1.00 EPS. The company's revenue was up 3.5% on a year-over-year basis. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. On average, analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, July 25th. GE HealthCare Technologies's dividend payout ratio is 2.87%.

Analyst Ratings Changes

GEHC has been the subject of several research analyst reports. BTIG Research reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. Morgan Stanley lowered their price objective on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Citigroup boosted their price target on GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Finally, Zacks Research raised shares of GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.55.

About GE HealthCare Technologies

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.