ProShare Advisors LLC Increases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

ProShare Advisors LLC boosted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 21.8% during the first quarter, Holdings Channel.com reports. The firm owned 510,921 shares of the company’s stock after buying an additional 91,483 shares during the period. ProShare Advisors LLC’s holdings in GE HealthCare Technologies were worth $46,448,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Wynn Capital LLC increased its stake in shares of GE HealthCare Technologies by 4.1% during the first quarter. Wynn Capital LLC now owns 3,125 shares of the company’s stock valued at $284,000 after buying an additional 122 shares during the period. Byrne Asset Management LLC boosted its holdings in GE HealthCare Technologies by 0.8% in the first quarter. Byrne Asset Management LLC now owns 16,424 shares of the company’s stock worth $1,493,000 after acquiring an additional 126 shares in the last quarter. WASHINGTON TRUST Co boosted its holdings in GE HealthCare Technologies by 7.7% in the first quarter. WASHINGTON TRUST Co now owns 1,853 shares of the company’s stock worth $168,000 after acquiring an additional 133 shares in the last quarter. Fiduciary Trust Co boosted its holdings in GE HealthCare Technologies by 1.8% in the fourth quarter. Fiduciary Trust Co now owns 7,696 shares of the company’s stock worth $595,000 after acquiring an additional 133 shares in the last quarter. Finally, Quent Capital LLC boosted its holdings in GE HealthCare Technologies by 21.3% in the first quarter. Quent Capital LLC now owns 780 shares of the company’s stock worth $71,000 after acquiring an additional 137 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Frank R. Jimenez purchased 1,315 shares of GE HealthCare Technologies stock in a transaction on Wednesday, May 1st. The stock was acquired at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now directly owns 75,796 shares in the company, valued at approximately $5,799,909.92. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other GE HealthCare Technologies news, CEO Jan Makela sold 20,227 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $81.57, for a total transaction of $1,649,916.39. Following the completion of the sale, the chief executive officer now directly owns 63,348 shares of the company’s stock, valued at approximately $5,167,296.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Frank R. Jimenez bought 1,315 shares of the stock in a transaction dated Wednesday, May 1st. The stock was bought at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the acquisition, the insider now directly owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The disclosure for this purchase can be found here. Insiders sold a total of 90,482 shares of company stock worth $7,369,137 over the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Bank of America dropped their target price on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Argus boosted their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Evercore ISI boosted their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Mizuho lowered their price target on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Citigroup upped their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average target price of $94.09.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock traded down $0.17 during mid-day trading on Wednesday, reaching $82.47. 2,508,292 shares of the stock traded hands, compared to its average volume of 3,114,448. The stock has a market capitalization of $37.64 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 2.88 and a beta of 1.20. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50. The business’s 50-day moving average is $78.81 and its 200-day moving average is $81.99.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, hitting analysts’ consensus estimates of $0.90. The business had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 earnings per share. As a group, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date is Friday, July 19th. GE HealthCare Technologies’s payout ratio is 3.51%.

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.