Canada Pension Plan Investment Board cut its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) by 77.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,106,134 shares of the company’s stock after selling 3,872,701 shares during the period. Canada Pension Plan Investment Board owned 0.24% of GE HealthCare Technologies worth $70,804,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of GEHC. Aberdeen Wealth Management LLC bought a new position in GE HealthCare Technologies in the 2nd quarter worth $44,000. Arete Wealth Advisors LLC purchased a new position in GE HealthCare Technologies during the second quarter valued at $942,000. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in GE HealthCare Technologies by 13.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock valued at $861,307,000 after purchasing an additional 1,571,226 shares during the period. Nixon Capital LLC bought a new stake in GE HealthCare Technologies during the second quarter valued at about $13,671,000. Finally, Bank of Nova Scotia increased its position in GE HealthCare Technologies by 40.7% in the second quarter. Bank of Nova Scotia now owns 67,181 shares of the company’s stock worth $4,300,000 after buying an additional 19,422 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.
GE HealthCare Technologies Price Performance
GEHC stock opened at $72.48 on Friday. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77. The company’s fifty day moving average price is $67.47 and its 200-day moving average price is $69.31. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. The company has a market capitalization of $32.74 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 2.12 and a beta of 0.69.
GE HealthCare Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, July 24th. GE HealthCare Technologies’s dividend payout ratio is 3.21%.
Analysts Set New Price Targets
GEHC has been the topic of several recent research reports. HSBC decreased their price objective on GE HealthCare Technologies from $100.00 to $90.00 in a research note on Thursday, April 30th. BTIG Research reissued a “buy” rating and issued a $79.00 target price on shares of GE HealthCare Technologies in a report on Wednesday, August 19th. UBS Group raised their target price on shares of GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. BNP Paribas Exane lowered their price target on shares of GE HealthCare Technologies from $95.00 to $88.00 in a report on Friday, May 1st. Finally, BMO Capital Markets started coverage on shares of GE HealthCare Technologies in a research report on Wednesday, July 8th. They issued a “market perform” rating and a $70.00 price target for the company. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $77.73.
Check Out Our Latest Stock Analysis on GEHC
GE HealthCare Technologies Profile
GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.
In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.
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