Healthcare of Ontario Pension Plan Trust Fund Acquires New Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,823 shares of the company's stock, valued at approximately $2,799,000.

Several other hedge funds also recently made changes to their positions in the company. LGT Financial Advisors LLC increased its position in GE HealthCare Technologies by 1,673.3% during the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company's stock worth $25,000 after buying an additional 251 shares during the period. Fred Alger Management LLC acquired a new position in shares of GE HealthCare Technologies in the 2nd quarter valued at $26,000. Capital Performance Advisors LLP acquired a new stake in GE HealthCare Technologies during the 3rd quarter worth $26,000. Ashton Thomas Securities LLC acquired a new position in GE HealthCare Technologies in the third quarter valued at $26,000. Finally, Elkhorn Partners Limited Partnership acquired a new stake in shares of GE HealthCare Technologies during the second quarter worth about $31,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC traded up $0.22 during trading on Friday, hitting $83.22. 1,277,723 shares of the stock were exchanged, compared to its average volume of 3,648,817. The company has a market cap of $38.02 billion, a PE ratio of 22.86, a P/E/G ratio of 2.98 and a beta of 1.24. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The company has a fifty day moving average price of $87.78 and a two-hundred day moving average price of $83.64. GE HealthCare Technologies Inc. has a 12-month low of $66.39 and a 12-month high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.06 by $0.08. The company had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. GE HealthCare Technologies's quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. On average, analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. This is an increase from GE HealthCare Technologies's previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 0.17%. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies's dividend payout ratio (DPR) is 3.30%.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now owns 24,298 shares of the company's stock, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on GEHC. UBS Group downgraded GE HealthCare Technologies from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Wells Fargo & Company upped their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Evercore ISI lifted their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. BTIG Research upgraded shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They issued a "neutral" rating and a $90.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, GE HealthCare Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.46.

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.