The Manufacturers Life Insurance Company Reduces Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• The Manufacturers Life Insurance Company cut its GE HealthCare position by 3%, selling 102,093 shares and retaining 3.35 million shares worth approximately $238.6 million, or 0.74% of the company.
• Institutional investors own 82.06% of GE HealthCare, while insiders have recently purchased 21,847 shares valued at about $1.36 million.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $76.41 price target. GEHC recently traded near $61, after quarterly EPS of $0.99 missed estimates despite revenue rising 7.4% year over year.

The Manufacturers Life Insurance Company decreased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 3.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,351,798 shares of the company's stock after selling 102,093 shares during the period. The Manufacturers Life Insurance Company owned about 0.74% of GE HealthCare Technologies worth $238,581,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise grew its stake in shares of GE HealthCare Technologies by 16,539.1% in the first quarter. Banque Cantonale Vaudoise now owns 25,957 shares of the company's stock worth $1,849,000 after purchasing an additional 25,801 shares during the last quarter. Allstate Corp lifted its holdings in GE HealthCare Technologies by 100.3% in the 4th 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 period. Perpetual Ltd bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth approximately $37,656,000. Herbst Group LLC purchased a new position in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $2,276,000. Finally, Auto Owners Insurance Co raised its holdings in shares of 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 acquiring an additional 33,629,559 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at GE HealthCare Technologies

In related news, Director Rodney F. Hochman purchased 1,618 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $62.03 per share, for a total transaction of $100,364.54. Following the purchase, the director directly owned 1,618 shares of the company's stock, valued at approximately $100,364.54. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Watkin Phoebe L. Yang acquired 1,000 shares of GE HealthCare Technologies stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average cost of $63.01 per share, with a total value of $63,010.00. Following the transaction, the director owned 13,702 shares in the company, valued at $863,363.02. This represents a 7.87% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 21,847 shares of company stock worth $1,361,355. Company insiders own 0.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GEHC. Piper Sandler dropped their price target on GE HealthCare Technologies from $88.00 to $74.00 in a research note on Thursday, April 30th. Weiss Ratings downgraded shares of GE HealthCare Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, May 15th. BNP Paribas Exane dropped their target price on shares of GE HealthCare Technologies from $95.00 to $88.00 in a research report on Friday, May 1st. Zacks Research lowered shares of GE HealthCare Technologies from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 21st. Finally, UBS Group cut their target price on shares of GE HealthCare Technologies from $69.00 to $67.00 and set a "neutral" rating on the stock in a research note on Thursday, July 16th. Ten investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, GE HealthCare Technologies currently has a consensus rating of "Hold" and a consensus price target of $76.41.

GE HealthCare Technologies Price Performance

Shares of GEHC stock opened at $61.12 on Tuesday. The stock has a market cap of $27.80 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.65 and a beta of 0.72. The business's fifty day moving average is $63.63 and its 200 day moving average is $70.96. GE HealthCare Technologies Inc. has a twelve month low of $58.75 and a twelve month high of $89.77. The company has a quick ratio of 0.95, a current ratio of 1.22 and a debt-to-equity ratio of 0.95.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.99 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.08). GE HealthCare Technologies had a net margin of 9.10% and a return on equity of 20.46%. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter last year, the firm posted $1.01 EPS. The business's quarterly revenue was up 7.4% on a year-over-year basis. GE HealthCare Technologies has set its FY 2026 guidance at 4.800-5.000 EPS. Research analysts expect that GE HealthCare Technologies Inc. will post 4.89 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders 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 dividend yield of 0.2%. The ex-dividend date is Friday, July 24th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 3.35%.

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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