BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 33,938 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 69.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,856 shares of the company’s stock after buying an additional 33,938 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in GE HealthCare Technologies were worth $6,456,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Marshall Wace LLP bought a new position in shares of GE HealthCare Technologies in the second quarter valued at about $63,639,000. Xponance Inc. increased its position in GE HealthCare Technologies by 5.1% in the second quarter. Xponance Inc. now owns 61,879 shares of the company’s stock worth $4,822,000 after purchasing an additional 3,004 shares during the period. Bank of Montreal Can increased its position 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 worth $54,964,000 after purchasing an additional 150,137 shares during the period. Public Sector Pension Investment Board increased its position in GE HealthCare Technologies by 35.8% in the second quarter. Public Sector Pension Investment Board now owns 15,280 shares of the company’s stock worth $1,191,000 after purchasing an additional 4,028 shares during the period. Finally, HighVista Strategies LLC acquired a new stake in GE HealthCare Technologies in the second quarter worth about $1,255,000. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Trading Down 0.6 %

NASDAQ GEHC opened at $92.49 on Friday. The stock has a market capitalization of $42.22 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 3.40 and a beta of 1.17. The stock’s 50 day moving average price is $84.90 and its two-hundred day moving average price is $83.32. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 EPS. As a group, analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s payout ratio is 3.51%.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the sale, the chief executive officer now owns 17,509 shares in the company, valued at approximately $1,414,377.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GEHC. Stifel Nicolaus started coverage on GE HealthCare Technologies in a research report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price objective for the company. The Goldman Sachs Group started coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They set a “neutral” rating and a $87.00 target price for the company. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $84.00 to $74.00 in a research report on Thursday. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Wednesday, September 18th. Finally, Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.92.

About GE HealthCare Technologies

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.