The Manufacturers Life Insurance Company Has $168.59 Million Stock Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• The Manufacturers Life Insurance Company reduced its GE HealthCare position by 21.4% in the second quarter, selling 717,905 shares and retaining 2.63 million shares worth approximately $168.6 million.
• GE HealthCare reported quarterly EPS of $1.13, beating estimates of $1.04, while revenue rose 5.8% year over year to $5.29 billion.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $77.73; institutional investors and hedge funds own 82.06% of the company.

The Manufacturers Life Insurance Company lowered its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 21.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,633,893 shares of the company's stock after selling 717,905 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.58% of GE HealthCare Technologies worth $168,595,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Banque Cantonale Vaudoise lifted its stake in shares of GE HealthCare Technologies by 16,539.1% in the 1st quarter. Banque Cantonale Vaudoise now owns 25,957 shares of the company's stock valued at $1,849,000 after purchasing an additional 25,801 shares during the last quarter. Allstate Corp increased its position in GE HealthCare Technologies by 100.3% during the fourth quarter. Allstate Corp now owns 32,688 shares of the company's stock worth $2,681,000 after buying an additional 16,365 shares during the last quarter. Auto Owners Insurance Co raised its holdings in GE HealthCare Technologies by 9,525.4% during the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company's stock valued at $278,725,000 after buying an additional 33,629,559 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter worth about $43,394,000. Finally, Boston Partners lifted its position in shares of GE HealthCare Technologies by 21.7% in the fourth quarter. Boston Partners now owns 4,659,562 shares of the company's stock worth $382,223,000 after buying an additional 830,626 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock opened at $74.19 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97. GE HealthCare Technologies Inc. has a fifty-two week low of $58.75 and a fifty-two week high of $89.77. The firm has a fifty day moving average price of $66.80 and a two-hundred day moving average price of $69.49. The company has a market cap of $33.51 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 2.16 and a beta of 0.69.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.09. The company had revenue of $5.29 billion for 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%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business posted $1.06 EPS. Analysts expect that GE HealthCare Technologies Inc. will post 4.93 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 24th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is 3.21%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. The Goldman Sachs Group reissued a "neutral" rating on shares of GE HealthCare Technologies in a report on Monday, June 8th. Weiss Ratings restated a "hold (c-)" rating on shares of GE HealthCare Technologies in a report on Wednesday, August 12th. Royal Bank Of Canada initiated coverage on GE HealthCare Technologies in a report on Tuesday, June 23rd. They set an "outperform" rating and a $80.00 price target on the stock. BMO Capital Markets initiated coverage on shares of GE HealthCare Technologies in a research note on Wednesday, July 8th. They issued a "market perform" rating and a $70.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their target price on shares of GE HealthCare Technologies from $80.00 to $65.00 and set a "neutral" rating on the stock in a report on Thursday, April 30th. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus 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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