Artemis Investment Management LLP Purchases 9,309 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Artemis Investment Management LLP raised its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 121,313 shares of the company’s stock after purchasing an additional 9,309 shares during the quarter. Artemis Investment Management LLP’s holdings in GE HealthCare Technologies were worth $9,453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of GE HealthCare Technologies by 9.2% in the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after acquiring an additional 4,107,746 shares during the period. Norges Bank bought a new stake in shares of GE HealthCare Technologies in the fourth quarter worth approximately $229,052,000. Capital Research Global Investors boosted its holdings in shares of GE HealthCare Technologies by 5.2% in the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after buying an additional 2,647,204 shares during the last quarter. Perpetual Ltd purchased a new position in shares of GE HealthCare Technologies in the first quarter worth approximately $96,135,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of GE HealthCare Technologies by 4,959.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock worth $68,957,000 after buying an additional 743,523 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Trading Down 1.1 %

NASDAQ GEHC traded down $0.93 during trading hours on Monday, hitting $82.47. 336,417 shares of the company were exchanged, compared to its average volume of 3,095,320. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The stock has a 50-day moving average price of $79.20 and a 200 day moving average price of $82.79. The stock has a market cap of $37.64 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.05.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts forecast that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

Analyst Ratings Changes

GEHC has been the topic of a number of research reports. Mizuho dropped their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group initiated coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They set a “neutral” rating and a $87.00 price target on the stock. Stifel Nicolaus initiated coverage on shares of GE HealthCare Technologies in a report on Tuesday, August 6th. They set a “buy” rating and a $100.00 price target on the stock. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Bank of America lowered their price target on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average price target of $94.58.

Insider Activity at GE HealthCare Technologies

In related news, CEO Jan Makela sold 66,955 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total value of $5,459,510.70. Following the completion of the sale, the chief executive officer now owns 63,348 shares in the company, valued at $5,165,395.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the sale, the chief executive officer now owns 17,509 shares in the company, valued at $1,414,377.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jan Makela sold 66,955 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total value of $5,459,510.70. Following the sale, the chief executive officer now owns 63,348 shares of the company’s stock, valued at approximately $5,165,395.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,005 shares of company stock worth $5,941,366. Company insiders own 0.27% of the company’s stock.

About GE HealthCare Technologies

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.