Northwestern Mutual Wealth Management Co. Raises Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Northwestern Mutual Wealth Management Co. increased its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 9.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,150 shares of the company’s stock after purchasing an additional 710 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in GE HealthCare Technologies were worth $636,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new stake in GE HealthCare Technologies in the first quarter worth approximately $25,000. BNP Paribas bought a new position in GE HealthCare Technologies in the first quarter worth approximately $30,000. Fred Alger Management LLC bought a new position in GE HealthCare Technologies in the second quarter worth approximately $26,000. Rise Advisors LLC raised its position in GE HealthCare Technologies by 241.4% in the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after acquiring an additional 239 shares during the period. Finally, Riverview Trust Co bought a new position in GE HealthCare Technologies in the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of the transaction, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at $1,414,377.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $90.06 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. The company has a market cap of $41.11 billion, a P/E ratio of 26.33, a P/E/G ratio of 3.40 and a beta of 1.18. The firm’s fifty day moving average is $86.41 and its two-hundred day moving average is $83.27. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.88 billion. During the same period last year, the company posted $0.92 EPS. The business’s revenue was up .5% on a year-over-year basis. As a group, analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a $0.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. GE HealthCare Technologies’s payout ratio is currently 3.51%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stifel Nicolaus increased their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective on the stock. Finally, Evercore ISI raised their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.23.

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.