Hotchkis & Wiley Capital Management LLC Buys 471,910 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)


Hotchkis & Wiley Capital Management LLC raised its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) by 9.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,511,973 shares of the company’s stock after purchasing an additional 471,910 shares during the period. GE HealthCare Technologies accounts for approximately 1.5% of Hotchkis & Wiley Capital Management LLC’s holdings, making the stock its 23rd biggest position. Hotchkis & Wiley Capital Management LLC owned 1.21% of GE HealthCare Technologies worth $426,186,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC raised its position in shares of GE HealthCare Technologies by 49.4% during the 4th quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock valued at $93,467,000 after buying an additional 399,961 shares in the last quarter. South Dakota Investment Council grew its stake in GE HealthCare Technologies by 272.1% in the 4th quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock worth $7,598,000 after acquiring an additional 71,857 shares in the last quarter. US Bancorp DE grew its stake in GE HealthCare Technologies by 83.4% in the fourth quarter. US Bancorp DE now owns 146,524 shares of the company’s stock worth $11,329,000 after purchasing an additional 66,638 shares in the last quarter. Cerity Partners LLC raised its position in GE HealthCare Technologies by 27.2% during the 4th quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock valued at $3,551,000 after purchasing an additional 9,809 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of GE HealthCare Technologies by 3.9% in the fourth quarter. Fifth Third Bancorp now owns 33,632 shares of the company’s stock valued at $2,600,000 after acquiring an additional 1,250 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity at GE HealthCare Technologies

In other news, insider Frank R. Jimenez purchased 1,315 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were purchased at an average cost of $76.52 per share, with a total value of $100,623.80. Following the completion of the acquisition, the insider now owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jan Makela sold 66,955 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the transaction, the chief executive officer now owns 63,348 shares in the company, valued at approximately $5,165,395.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Frank R. Jimenez purchased 1,315 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average cost of $76.52 per share, with a total value of $100,623.80. Following the acquisition, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 90,482 shares of company stock worth $7,369,137. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GEHC shares. Bank of America cut their target price on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Mizuho dropped their price objective on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Argus lifted their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, April 1st. The Goldman Sachs Group initiated coverage on shares of GE HealthCare Technologies in a research note on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective for the company. Finally, Citigroup raised their target price on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research note 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, the company currently has an average rating of “Moderate Buy” and an average price target of $94.09.

View Our Latest Analysis on GE HealthCare Technologies

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $74.74 on Wednesday. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.50. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. The company has a market cap of $34.12 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 2.73 and a beta of 1.22. The company’s 50 day moving average is $82.09 and its 200 day moving average is $81.07.

GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.27 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend was Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.51%.

GE HealthCare Technologies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)



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