Retirement Systems of Alabama Sells 2,160 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Retirement Systems of Alabama trimmed its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,285 shares of the company’s stock after selling 2,160 shares during the quarter. Retirement Systems of Alabama’s holdings in GE HealthCare Technologies were worth $6,672,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in GE HealthCare Technologies by 14.7% in the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after purchasing an additional 5,693,244 shares during the last quarter. Invesco Ltd. raised its position in shares of GE HealthCare Technologies by 21.4% during the third quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock worth $343,484,000 after acquiring an additional 889,297 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of GE HealthCare Technologies by 7.8% during the third quarter. Bank of New York Mellon Corp now owns 4,380,408 shares of the company’s stock valued at $298,043,000 after acquiring an additional 315,808 shares during the period. Northern Trust Corp boosted its holdings in GE HealthCare Technologies by 8.9% in the third quarter. Northern Trust Corp now owns 4,205,506 shares of the company’s stock valued at $286,143,000 after acquiring an additional 342,040 shares during the last quarter. Finally, Gates Capital Management Inc. increased its position in GE HealthCare Technologies by 17.5% in the third quarter. Gates Capital Management Inc. now owns 2,708,835 shares of the company’s stock worth $184,309,000 after purchasing an additional 402,900 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. HSBC initiated coverage on shares of GE HealthCare Technologies in a research report on Thursday, February 15th. They set a “buy” rating and a $100.00 price target for the company. Morgan Stanley upped their target price on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Citigroup raised their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI upped their price objective on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and increased their target price for the company from $66.00 to $88.00 in a research note on Monday, February 12th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

Insider Activity

In related news, insider Frank R. Jimenez acquired 1,315 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the acquisition, the insider now directly owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Up 2.1 %

NASDAQ GEHC opened at $79.47 on Friday. The business has a fifty day moving average price of $88.25 and a two-hundred day moving average price of $78.89. The stock has a market capitalization of $36.27 billion, a PE ratio of 23.24, a PEG ratio of 2.86 and a beta of 1.26. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.50. 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 (NASDAQ:GEHC) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the firm posted $0.85 EPS. The firm’s revenue was down 1.2% on a year-over-year basis. Equities analysts expect that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.15%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.51%.

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.