Central Pacific Bank Trust Division Makes New $442,000 Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Central Pacific Bank Trust Division bought a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHCFree Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,933 shares of the company’s stock, valued at approximately $442,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its holdings in shares of GE HealthCare Technologies by 2.8% during the 4th quarter. Capital Research Global Investors now owns 51,344,719 shares of the company’s stock valued at $3,969,975,000 after purchasing an additional 1,401,566 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of GE HealthCare Technologies by 14.7% during the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock valued at $3,029,917,000 after purchasing an additional 5,693,244 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of GE HealthCare Technologies by 9.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock valued at $426,186,000 after purchasing an additional 471,910 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of GE HealthCare Technologies by 17.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,454,690 shares of the company’s stock valued at $267,121,000 after purchasing an additional 504,287 shares in the last quarter. Finally, Norges Bank bought a new position in shares of GE HealthCare Technologies during the 4th quarter valued at $229,052,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC traded up $0.77 on Wednesday, hitting $77.64. 198,283 shares of the stock were exchanged, compared to its average volume of 3,118,776. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83. The business’s fifty day moving average is $78.70 and its 200 day moving average is $81.89. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The company has a market capitalization of $35.44 billion, a PE ratio of 22.48, a P/E/G ratio of 2.75 and a beta of 1.20.

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

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

Insider Transactions at GE HealthCare Technologies

In other news, CEO Jan Makela sold 20,227 shares of the stock in a transaction dated Monday, May 13th. The shares were 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 owns 63,348 shares of the company’s stock, valued at $5,167,296.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO Taha Kass-Hout sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total value of $259,710.00. Following the completion of the transaction, the chief technology officer now owns 67,300 shares in the company, valued at approximately $5,296,510. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jan Makela sold 20,227 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $81.57, for a total transaction of $1,649,916.39. Following the completion of the transaction, the chief executive officer now owns 63,348 shares of the company’s stock, valued at approximately $5,167,296.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,482 shares of company stock valued at $7,369,137. 0.27% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GEHC has been the topic of a number of recent research reports. Citigroup raised their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group initiated coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 target price on the stock. Argus lifted their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Evercore ISI raised their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Bank of America decreased their price target on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.09.

Read Our Latest Report on GE HealthCare Technologies

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.

See Also

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Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)

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