The Manufacturers Life Insurance Company Sells 84,529 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

The Manufacturers Life Insurance Company lowered its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 6.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,161,432 shares of the company's stock after selling 84,529 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.25% of GE HealthCare Technologies worth $108,995,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Mesirow Financial Investment Management Inc. lifted its position in shares of GE HealthCare Technologies by 39.6% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company's stock worth $383,000 after acquiring an additional 1,159 shares during the period. LMR Partners LLP acquired a new position in GE HealthCare Technologies during the 3rd quarter worth $7,387,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in GE HealthCare Technologies in the third quarter worth about $1,396,000. Bank of Montreal Can lifted its holdings in GE HealthCare Technologies by 27.5% in the second quarter. Bank of Montreal Can now owns 696,446 shares of the company's stock valued at $54,964,000 after buying an additional 150,137 shares during the period. Finally, Douglas Lane & Associates LLC increased its holdings in GE HealthCare Technologies by 2.2% in the third quarter. Douglas Lane & Associates LLC now owns 460,004 shares of the company's stock valued at $43,171,000 after purchasing an additional 10,099 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Price Performance

NASDAQ GEHC traded up $0.49 on Wednesday, hitting $83.00. The stock had a trading volume of 1,807,975 shares, compared to its average volume of 3,079,142. The firm has a 50-day moving average of $88.19 and a 200-day moving average of $83.61. The company has a market capitalization of $37.92 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 2.96 and a beta of 1.24. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. GE HealthCare Technologies Inc. has a 52-week low of $66.39 and a 52-week 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 the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business had revenue of $4.86 billion during the quarter, compared to analysts' expectations of $4.87 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The firm's revenue was up .9% on a year-over-year basis. Equities analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Tuesday, January 14th. This is a positive change from GE HealthCare Technologies's previous quarterly dividend of $0.03. GE HealthCare Technologies's dividend payout ratio is 3.30%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Evercore ISI raised their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. BTIG Research raised GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Wednesday, September 18th. Redburn Atlantic raised shares of GE HealthCare Technologies to a "strong-buy" rating in a research note on Thursday, August 1st. Wells Fargo & Company raised their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Finally, UBS Group lowered shares of GE HealthCare Technologies from a "neutral" rating to a "sell" rating and dropped their target price for the company from $84.00 to $74.00 in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, five have assigned 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, GE HealthCare Technologies has an average rating of "Moderate Buy" and an average price target of $94.36.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the firm's stock in a transaction that occurred 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 $2,101,291.04. This trade represents a 12.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.