GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by MetLife Investment Management LLC

MetLife Investment Management LLC lifted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 120,361 shares of the company’s stock after acquiring an additional 5,243 shares during the period. MetLife Investment Management LLC’s holdings in GE HealthCare Technologies were worth $11,296,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CreativeOne Wealth LLC acquired a new position in shares of GE HealthCare Technologies in the 3rd quarter valued at $259,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of GE HealthCare Technologies during the third quarter worth about $2,799,000. Glenmede Trust Co. NA boosted its position in shares of GE HealthCare Technologies by 0.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 30,173 shares of the company’s stock valued at $2,832,000 after purchasing an additional 180 shares during the period. Cynosure Group LLC increased its position in GE HealthCare Technologies by 57.6% during the third quarter. Cynosure Group LLC now owns 32,532 shares of the company’s stock worth $3,053,000 after buying an additional 11,890 shares during the period. Finally, Townsquare Capital LLC grew its position in shares of GE HealthCare Technologies by 21.5% during the third quarter. Townsquare Capital LLC now owns 7,722 shares of the company’s stock worth $725,000 after acquiring an additional 1,366 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at GE HealthCare Technologies

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

Analysts Set New Price Targets

A number of brokerages have recently commented on GEHC. Stifel Nicolaus upped their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price on the stock. Evercore ISI upped their price target 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. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.36.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $83.00 on Friday. GE HealthCare Technologies Inc. has a 12 month low of $66.39 and a 12 month high of $94.55. The firm has a market capitalization of $37.92 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 2.96 and a beta of 1.24. The business’s 50 day simple moving average is $88.07 and its 200-day simple moving average is $83.61. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 EPS. As a group, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be given 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 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s payout ratio is currently 3.30%.

GE HealthCare Technologies Company 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.