Russell Investments Group Ltd. Decreases Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Russell Investments Group Ltd. trimmed its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 12.9% in the 4th quarter, HoldingsChannel reports. The firm owned 80,175 shares of the company’s stock after selling 11,882 shares during the period. Russell Investments Group Ltd.’s holdings in GE HealthCare Technologies were worth $6,200,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of GE HealthCare Technologies by 14.7% during the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after buying an additional 5,693,244 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in GE HealthCare Technologies by 84.4% in the third quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock worth $181,578,000 after acquiring an additional 1,221,436 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in GE HealthCare Technologies by 1,323.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,024,128 shares of the company’s stock worth $69,682,000 after acquiring an additional 952,182 shares in the last quarter. Invesco Ltd. increased its position in shares of GE HealthCare Technologies by 21.4% in the 3rd quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock valued at $343,484,000 after purchasing an additional 889,297 shares during the last quarter. Finally, Nordea Investment Management AB acquired a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at $55,152,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In related news, insider Frank R. Jimenez bought 1,315 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $76.52 per share, with a total value of $100,623.80. Following the completion of the acquisition, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.27% of the stock is owned by insiders.

GE HealthCare Technologies Price Performance

GEHC stock opened at $81.11 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $37.02 billion, a P/E ratio of 23.72, a PEG ratio of 2.86 and a beta of 1.26. The business has a 50 day simple moving average of $87.81 and a 200-day simple moving average of $79.30. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.90. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.80 billion. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. GE HealthCare Technologies’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 EPS. As a group, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GEHC shares. HSBC started coverage on shares of GE HealthCare Technologies in a research note on Thursday, February 15th. They set a “buy” rating and a $100.00 target price for the company. Evercore ISI boosted their target price on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Bank of America lowered their target price on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Argus boosted their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Finally, Mizuho lowered their target price on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

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.