TCW Group Inc. reduced its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 16.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 357,038 shares of the company's stock after selling 71,643 shares during the quarter. TCW Group Inc. owned about 0.08% of GE HealthCare Technologies worth $27,607,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. First Command Advisory Services Inc. lifted its holdings in shares of GE HealthCare Technologies by 36,900.0% during the 3rd quarter. First Command Advisory Services Inc. now owns 370 shares of the company's stock worth $25,000 after acquiring an additional 369 shares during the period. ORG Partners LLC increased its position in GE HealthCare Technologies by 174.2% during the 3rd quarter. ORG Partners LLC now owns 425 shares of the company's stock worth $29,000 after purchasing an additional 270 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in GE HealthCare Technologies during the 4th quarter worth approximately $29,000. Turtle Creek Wealth Advisors LLC acquired a new stake in GE HealthCare Technologies during the 4th quarter worth approximately $30,000. Finally, Sachetta LLC acquired a new stake in GE HealthCare Technologies during the 4th quarter worth approximately $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on GEHC. Bank of America dropped 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 report on Wednesday, May 1st. Evercore ISI increased their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, April 4th. Morgan Stanley increased their price objective on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an "equal weight" rating in a research report on Monday, February 12th. Mizuho lowered their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a "buy" rating for the company in a research report on Wednesday, May 1st. Finally, HSBC initiated coverage on shares of GE HealthCare Technologies in a research report on Thursday, February 15th. They issued a "buy" rating and a $100.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.80.
Check Out Our Latest Analysis on GE HealthCare Technologies
GE HealthCare Technologies Stock Performance
GEHC traded down $1.29 during trading hours on Thursday, hitting $79.33. 2,034,510 shares of the stock were exchanged, compared to its average volume of 3,244,461. The stock has a 50-day simple moving average of $85.31 and a 200-day simple moving average of $80.41. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.50. The stock has a market cap of $36.21 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 2.95 and a beta of 1.26. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83.
GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.90. The company had revenue of $4.65 billion for the quarter, compared to analysts' expectations of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The firm's quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.85 earnings per share. Analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.
GE HealthCare Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Thursday, April 18th. GE HealthCare Technologies's dividend payout ratio is currently 3.51%.
Insider Buying and Selling
In related news, CEO Jan Makela sold 20,227 shares of GE HealthCare Technologies stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $81.57, for a total value of $1,649,916.39. Following the transaction, the chief executive officer now owns 63,348 shares of the company's stock, valued at approximately $5,167,296.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Frank R. Jimenez bought 1,315 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the acquisition, the insider now owns 75,796 shares in the company, valued at $5,799,909.92. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jan Makela sold 20,227 shares of GE HealthCare Technologies stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $81.57, for a total value of $1,649,916.39. Following the completion of the transaction, the chief executive officer now directly owns 63,348 shares in the company, valued at $5,167,296.36. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.
GE HealthCare Technologies Company Profile
(Free Report)
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.
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