Pacer Advisors Inc. Has $2.72 Million Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• Pacer Advisors cut its GE HealthCare Technologies stake by 44.8% in the first quarter, selling 30,999 shares and retaining 38,183 shares valued at approximately $2.72 million. Institutional investors collectively own 82.06% of the company.
• GE HealthCare reported quarterly EPS of $1.13, topping analyst estimates of $1.04, while revenue rose 5.8% year over year to $5.29 billion. The company also declared a quarterly dividend of $0.035 per share, representing a 0.2% yield.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and an average price target of $77.73, while several firms recently reduced their targets. Shares opened at $71.77, with a 12-month range of $58.75 to $89.77.

Pacer Advisors Inc. lessened its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 44.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,183 shares of the company's stock after selling 30,999 shares during the quarter. Pacer Advisors Inc.'s holdings in GE HealthCare Technologies were worth $2,718,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter worth approximately $26,000. Optima Capital LLC acquired a new position in GE HealthCare Technologies in the 4th quarter valued at approximately $27,000. Godfrey Financial Associates Inc. purchased a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $27,000. Montag A & Associates Inc. lifted its position in GE HealthCare Technologies by 105.4% in the 4th quarter. Montag A & Associates Inc. now owns 341 shares of the company's stock worth $28,000 after buying an additional 175 shares in the last quarter. Finally, Transamerica Financial Advisors LLC boosted its stake in shares of GE HealthCare Technologies by 331.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company's stock valued at $28,000 after buying an additional 262 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Transactions at GE HealthCare Technologies

In related news, Director Rodney F. Hochman acquired 1,618 shares of the stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $62.03 per share, with a total value of $100,364.54. Following the acquisition, the director owned 1,618 shares in the company, valued at approximately $100,364.54. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kevin Lobo acquired 10,000 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average cost of $64.18 per share, for a total transaction of $641,800.00. Following the completion of the purchase, the director directly owned 14,363 shares in the company, valued at $921,817.34. This represents a 229.20% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.36% of the stock is owned by insiders.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $71.77 on Friday. The company's fifty day moving average is $64.72 and its 200-day moving average is $70.07. GE HealthCare Technologies Inc. has a 12 month low of $58.75 and a 12 month high of $89.77. The firm has a market cap of $32.42 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 2.03 and a beta of 0.69. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.92.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. GE HealthCare Technologies's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 EPS. Equities analysts expect that GE HealthCare Technologies Inc. will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 24th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, July 24th. GE HealthCare Technologies's dividend payout ratio (DPR) is 3.21%.

Analyst Ratings Changes

Several equities analysts have recently commented on GEHC shares. Mizuho lowered their price target on shares of GE HealthCare Technologies from $90.00 to $80.00 in a report on Thursday, April 30th. Argus cut their price objective on GE HealthCare Technologies from $95.00 to $80.00 and set a "buy" rating for the company in a report on Tuesday, May 19th. Weiss Ratings cut GE HealthCare Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, May 15th. BNP Paribas Exane lowered their target price on GE HealthCare Technologies from $95.00 to $88.00 in a research note on Friday, May 1st. Finally, Royal Bank Of Canada initiated coverage on GE HealthCare Technologies in a research report on Tuesday, June 23rd. They issued an "outperform" rating and a $80.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $77.73.

GE HealthCare Technologies 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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