The Manufacturers Life Insurance Company Has $109 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

The Manufacturers Life Insurance Company lowered its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,161,432 shares of the company’s stock after selling 84,529 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.25% of GE HealthCare Technologies worth $108,995,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. grew its position in GE HealthCare Technologies by 39.6% during the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock worth $383,000 after buying an additional 1,159 shares in the last quarter. LMR Partners LLP bought a new stake in GE HealthCare Technologies during the third quarter worth $7,387,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in GE HealthCare Technologies during the third quarter worth $1,396,000. Bank of Montreal Can lifted its stake in GE HealthCare Technologies by 27.5% during 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 last quarter. Finally, Douglas Lane & Associates LLC lifted its stake in GE HealthCare Technologies by 2.2% during the third quarter. Douglas Lane & Associates LLC now owns 460,004 shares of the company’s stock worth $43,171,000 after purchasing an additional 10,099 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Down 0.2 %

Shares of NASDAQ:GEHC opened at $82.51 on Wednesday. The firm has a market cap of $37.70 billion, a P/E ratio of 22.67, a P/E/G ratio of 2.96 and a beta of 1.24. 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 12-month low of $66.39 and a 12-month high of $94.55. The business has a fifty day simple moving average of $88.27 and a 200 day simple moving average of $83.62.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $4.87 billion. During the same period last year, the company earned $0.99 EPS. GE HealthCare Technologies’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts predict that GE HealthCare Technologies Inc. will post 4.3 earnings per share 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 dividend of $0.035 per share. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.30%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GEHC shares. Evercore ISI upped their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. 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 note on Wednesday, September 18th. Wells Fargo & Company upped 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. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their target price for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.36.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the sale, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Profile

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.