Man Group plc Sells 369,072 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Man Group plc reduced its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 69.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 158,891 shares of the company's stock after selling 369,072 shares during the period. Man Group plc's holdings in GE HealthCare Technologies were worth $12,422,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors raised its position in shares of GE HealthCare Technologies by 4.5% during the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock worth $4,755,851,000 after acquiring an additional 2,608,066 shares during the last quarter. Vanguard Group Inc. increased its position in GE HealthCare Technologies by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock valued at $4,107,378,000 after purchasing an additional 2,155,429 shares during the period. Geode Capital Management LLC raised its holdings in GE HealthCare Technologies by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company's stock worth $882,777,000 after purchasing an additional 342,819 shares during the last quarter. Invesco Ltd. lifted its position in shares of GE HealthCare Technologies by 18.4% in the 4th quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock worth $630,751,000 after purchasing an additional 1,252,613 shares during the period. Finally, Norges Bank bought a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at $488,531,000. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

GEHC traded down $0.69 on Friday, hitting $68.75. The company's stock had a trading volume of 538,743 shares, compared to its average volume of 3,424,925. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The firm has a market cap of $31.48 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company's 50 day simple moving average is $70.36 and its 200-day simple moving average is $79.77.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the company posted $0.90 EPS. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its Board of Directors has approved a stock repurchase plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Friday, April 25th. GE HealthCare Technologies's payout ratio is 2.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Citigroup reduced their price objective on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company lowered their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Morgan Stanley cut their target price on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group decreased their price target on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.27.

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.