Public Sector Pension Investment Board Has $18.95 Million Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Public Sector Pension Investment Board raised its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1,221.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,895 shares of the company's stock after acquiring an additional 186,615 shares during the quarter. Public Sector Pension Investment Board's holdings in GE HealthCare Technologies were worth $18,948,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Van ECK Associates Corp purchased a new position in GE HealthCare Technologies during the third quarter worth $208,513,000. Massachusetts Financial Services Co. MA purchased a new position in shares of GE HealthCare Technologies during the third quarter valued at approximately $93,713,000. Marshall Wace LLP acquired a new stake in shares of GE HealthCare Technologies during the second quarter worth $63,639,000. International Assets Investment Management LLC grew its position in shares of GE HealthCare Technologies by 10,227.3% in the third quarter. International Assets Investment Management LLC now owns 621,913 shares of the company's stock valued at $58,367,000 after purchasing an additional 615,891 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of GE HealthCare Technologies by 12.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company's stock worth $254,422,000 after acquiring an additional 290,019 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Price Performance

NASDAQ:GEHC traded up $0.22 during mid-day trading on Friday, reaching $83.22. 1,277,723 shares of the stock were exchanged, compared to its average volume of 3,071,344. GE HealthCare Technologies Inc. has a 1-year low of $66.39 and a 1-year high of $94.55. 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 firm has a market capitalization of $38.02 billion, a PE ratio of 22.86, a PEG ratio of 2.97 and a beta of 1.24. The business has a fifty day moving average price of $87.92 and a 200 day moving average price of $83.61.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (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 analyst estimates 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 revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.99 earnings per share. Research analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal 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 paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.17%. The ex-dividend date is Tuesday, January 14th. This is a boost from GE HealthCare Technologies's previous quarterly dividend of $0.03. GE HealthCare Technologies's payout ratio is 3.85%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GEHC shares. Redburn Atlantic raised GE HealthCare Technologies to a "strong-buy" rating in a research report on Thursday, August 1st. Wells Fargo & Company upped their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Evercore ISI upped their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an "outperform" rating in a research note on Tuesday, October 1st. Stifel Nicolaus increased their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Finally, UBS Group cut GE HealthCare Technologies from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $94.36.

Insiders Place Their Bets

In other news, CEO Roland Rott sold 3,577 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 24,298 shares in the company, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.27% of the company's stock.

GE HealthCare Technologies Company 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.