Korea Investment CORP Sells 130,014 Shares of GE HealthCare Technologies Inc. $GEHC

Korea Investment CORP trimmed its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 60.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 84,222 shares of the company’s stock after selling 130,014 shares during the quarter. Korea Investment CORP’s holdings in GE HealthCare Technologies were worth $5,391,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of GE HealthCare Technologies by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 52,275,767 shares of the company’s stock valued at $4,287,658,000 after buying an additional 267,058 shares during the period. Auto Owners Insurance Co lifted its holdings in GE HealthCare Technologies by 9,525.4% in the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock worth $278,725,000 after buying an additional 33,629,559 shares during the period. Dodge & Cox boosted its position in GE HealthCare Technologies by 13.4% during the 4th quarter. Dodge & Cox now owns 31,211,229 shares of the company’s stock valued at $2,559,945,000 after acquiring an additional 3,693,918 shares in the last quarter. Capital Research Global Investors boosted its position in GE HealthCare Technologies by 1.6% during the 4th quarter. Capital Research Global Investors now owns 25,362,352 shares of the company’s stock valued at $2,080,248,000 after acquiring an additional 389,796 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of GE HealthCare Technologies by 2.0% during the 4th quarter. State Street Corp now owns 20,049,677 shares of the company’s stock worth $1,644,475,000 after acquiring an additional 401,932 shares during the period. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

GEHC has been the subject of several research reports. JPMorgan Chase & Co. decreased their target price on GE HealthCare Technologies from $80.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. The Goldman Sachs Group restated a “neutral” rating on shares of GE HealthCare Technologies in a research report on Monday, June 8th. HSBC decreased their price objective on GE HealthCare Technologies from $100.00 to $90.00 in a report on Thursday, April 30th. Piper Sandler restated a “buy” rating on shares of GE HealthCare Technologies in a report on Wednesday, July 29th. Finally, Hovde Group initiated coverage on shares of GE HealthCare Technologies in a research report on Friday, July 17th. They issued a “market perform” rating and a $14.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, GE HealthCare Technologies has an average rating of “Hold” and an average target price of $77.73.

GE HealthCare Technologies Stock Down 0.8%

GEHC stock opened at $74.19 on Tuesday. GE HealthCare Technologies Inc. has a twelve month low of $58.75 and a twelve month high of $89.77. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.92. The firm has a market cap of $33.51 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 2.16 and a beta of 0.69. The business has a 50 day moving average of $66.80 and a 200 day moving average of $69.49.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the previous year, the business earned $1.06 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts forecast that GE HealthCare Technologies Inc. will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 24th were given a $0.035 dividend. 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 payout ratio is currently 3.21%.

GE HealthCare Technologies Company 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.