GE HealthCare Technologies Inc. (NASDAQ:GEHC) Holdings Increased by California State Teachers Retirement System

California State Teachers Retirement System grew its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 682,116 shares of the company’s stock after buying an additional 14,800 shares during the quarter. California State Teachers Retirement System owned about 0.15% of GE HealthCare Technologies worth $62,011,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GEHC. Wynn Capital LLC raised its holdings in GE HealthCare Technologies by 4.1% during the 1st quarter. Wynn Capital LLC now owns 3,125 shares of the company’s stock worth $284,000 after buying an additional 122 shares during the period. Byrne Asset Management LLC raised its holdings in GE HealthCare Technologies by 0.8% during the 1st quarter. Byrne Asset Management LLC now owns 16,424 shares of the company’s stock worth $1,493,000 after buying an additional 126 shares during the period. WASHINGTON TRUST Co raised its holdings in GE HealthCare Technologies by 7.7% during the 1st quarter. WASHINGTON TRUST Co now owns 1,853 shares of the company’s stock worth $168,000 after buying an additional 133 shares during the period. Fiduciary Trust Co raised its holdings in GE HealthCare Technologies by 1.8% during the 4th quarter. Fiduciary Trust Co now owns 7,696 shares of the company’s stock worth $595,000 after buying an additional 133 shares during the period. Finally, Quent Capital LLC raised its holdings in GE HealthCare Technologies by 21.3% during the 1st quarter. Quent Capital LLC now owns 780 shares of the company’s stock worth $71,000 after buying an additional 137 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at GE HealthCare Technologies

In other news, CEO Jan Makela sold 20,227 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $81.57, for a total transaction of $1,649,916.39. Following the completion of the transaction, the chief executive officer now directly owns 63,348 shares in the company, valued at $5,167,296.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CTO Taha Kass-Hout sold 3,300 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the completion of the transaction, the chief technology officer now directly owns 67,300 shares in the company, valued at $5,296,510. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jan Makela sold 20,227 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $81.57, for a total value of $1,649,916.39. Following the completion of the transaction, the chief executive officer now owns 63,348 shares of the company’s stock, valued at $5,167,296.36. The disclosure for this sale can be found here. Insiders sold a total of 90,482 shares of company stock worth $7,369,137 over the last three months. 0.27% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on GEHC shares. Mizuho cut their price objective 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. Bank of America lowered their target price on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group assumed coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They set a “neutral” rating and a $87.00 target price on the stock. Citigroup lifted their target price on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, Evercore ISI lifted their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.09.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock traded down $0.47 during trading hours on Thursday, reaching $84.16. 253,480 shares of the company were exchanged, compared to its average volume of 3,116,697. The firm has a market cap of $38.42 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 2.97 and a beta of 1.20. 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 stock has a 50-day moving average of $78.76 and a 200 day moving average of $82.32. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.50.

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, topping analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. As a group, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.03 per share. The ex-dividend date is Friday, July 19th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 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.