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

The Manufacturers Life Insurance Company cut its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.8% in the 3rd quarter, HoldingsChannel.com reports. 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’s holdings in GE HealthCare Technologies were worth $108,995,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. LGT Financial Advisors LLC grew its stake in shares of GE HealthCare Technologies by 1,673.3% in the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after buying an additional 251 shares during the period. Ashton Thomas Securities LLC bought a new position in GE HealthCare Technologies in the 3rd quarter valued at about $26,000. Pathway Financial Advisers LLC bought a new position in GE HealthCare Technologies in the 1st quarter valued at about $25,000. Capital Performance Advisors LLP bought a new position in GE HealthCare Technologies in the 3rd quarter valued at about $26,000. Finally, Darwin Wealth Management LLC bought a new position in GE HealthCare Technologies in the 3rd quarter valued at about $31,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $82.51 on Wednesday. GE HealthCare Technologies Inc. has a 12 month low of $66.39 and a 12 month high of $94.55. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The business’s 50 day simple moving average is $88.27 and its 200 day simple moving average is $83.62. The company has a market cap of $37.70 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 2.96 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS 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 prior year, the business earned $0.99 earnings per share. GE HealthCare Technologies’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be paid a $0.035 dividend. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 annualized dividend and a yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio is presently 3.30%.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the business’s 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 owns 24,298 shares of the company’s stock, valued at $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on GEHC shares. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price target for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Evercore ISI raised their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. started coverage on shares of 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. Wells Fargo & Company raised their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus raised their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $94.36.

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.