iA Global Asset Management Inc. Buys 1,710 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

iA Global Asset Management Inc. grew its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,551 shares of the company’s stock after purchasing an additional 1,710 shares during the period. iA Global Asset Management Inc.’s holdings in GE HealthCare Technologies were worth $4,369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GEHC. State Street Corp boosted its position in GE HealthCare Technologies by 7.8% during the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after acquiring an additional 1,347,114 shares in the last quarter. D1 Capital Partners L.P. bought a new stake in shares of GE HealthCare Technologies during the third quarter valued at approximately $268,159,000. Charles Schwab Investment Management Inc. boosted its position in shares of GE HealthCare Technologies by 12.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock valued at $254,422,000 after purchasing an additional 290,019 shares in the last quarter. Van ECK Associates Corp purchased a new stake in GE HealthCare Technologies in the third quarter worth $208,513,000. Finally, FMR LLC lifted its position in GE HealthCare Technologies by 4.1% during the third quarter. FMR LLC now owns 2,165,826 shares of the company’s stock valued at $203,263,000 after buying an additional 84,411 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Roland Rott sold 3,577 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by insiders.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $81.24 on Friday. The company has a market cap of $37.12 billion, a PE ratio of 22.32, a PEG ratio of 2.97 and a beta of 1.07. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies Inc. has a 52-week low of $67.00 and a 52-week high of $94.55. The firm’s 50-day moving average price is $86.80 and its 200-day moving average price is $83.66.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the previous year, the business earned $0.99 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.17%. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is presently 3.30%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. Evercore ISI raised their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. Stifel Nicolaus lifted their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company increased their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.46.

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.