Teachers Insurance & Annuity Association of America Buys New Shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Teachers Insurance & Annuity Association of America purchased a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the third quarter, according to its most recent filing with the SEC. The firm purchased 537 shares of the company’s stock, valued at approximately $50,000.

Other hedge funds have also recently made changes to their positions in the company. LGT Financial Advisors LLC lifted its position in shares of GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after acquiring an additional 251 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of GE HealthCare Technologies during the third quarter valued at about $26,000. Pathway Financial Advisers LLC acquired a new position in shares of GE HealthCare Technologies during the first quarter valued at about $25,000. Capital Performance Advisors LLP bought a new position in shares of GE HealthCare Technologies during the 3rd quarter worth about $26,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at about $31,000. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Stifel Nicolaus increased their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price target for the company. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Wednesday, September 18th. Evercore ISI boosted their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price target for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.36.

Insider Activity

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the transaction, the chief executive officer now owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Performance

GEHC stock traded up $0.49 during midday trading on Thursday, hitting $83.00. The company’s stock had a trading volume of 1,807,975 shares, compared to its average volume of 3,079,142. GE HealthCare Technologies Inc. has a 1 year low of $66.39 and a 1 year high of $94.55. The stock has a market cap of $37.92 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 2.96 and a beta of 1.24. The stock’s 50-day moving average price is $88.19 and its 200 day moving average price is $83.61. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same quarter last year, the business posted $0.99 EPS. GE HealthCare Technologies’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio is presently 3.30%.

GE HealthCare Technologies Company Profile

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.