California Public Employees Retirement System Reduces Stock Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• California Public Employees Retirement System cut its GE HealthCare Technologies stake by 2.4% in the first quarter, selling 18,914 shares and ending with 760,034 shares worth about $54.1 million.
• Analysts remain cautious overall: GEHC has a consensus rating of “Hold” with an average price target of $76.41, even though 10 analysts rate it a Buy and 11 rate it a Hold.
• Insiders have been buying shares, including director Kevin Lobo and insider Frank R. Jimenez, while the company also reported quarterly EPS of $0.99, missing estimates despite revenue coming in above expectations.

California Public Employees Retirement System lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 760,034 shares of the company's stock after selling 18,914 shares during the quarter. California Public Employees Retirement System owned about 0.17% of GE HealthCare Technologies worth $54,099,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GEHC. Laurel Wealth Advisors LLC purchased a new position in GE HealthCare Technologies during the fourth quarter worth about $26,000. Optima Capital LLC acquired a new position in GE HealthCare Technologies in the 4th quarter valued at about $27,000. Godfrey Financial Associates Inc. purchased a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at approximately $27,000. Montag A & Associates Inc. grew its stake in shares of GE HealthCare Technologies by 105.4% in the 4th quarter. Montag A & Associates Inc. now owns 341 shares of the company's stock valued at $28,000 after buying an additional 175 shares during the period. Finally, Transamerica Financial Advisors LLC increased its holdings in shares of GE HealthCare Technologies by 331.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company's stock worth $28,000 after buying an additional 262 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on GEHC. Hovde Group initiated coverage on GE HealthCare Technologies in a report on Friday. They issued a "market perform" rating and a $14.00 price objective on the stock. Evercore set a $80.00 price objective on GE HealthCare Technologies in a research report on Thursday, April 30th. Mizuho cut their target price on GE HealthCare Technologies from $90.00 to $80.00 in a research note on Thursday, April 30th. Citigroup restated a "neutral" rating on shares of GE HealthCare Technologies in a research report on Wednesday, July 8th. Finally, UBS Group decreased their price target on GE HealthCare Technologies from $69.00 to $67.00 and set a "neutral" rating on the stock in a research note on Thursday. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, GE HealthCare Technologies currently has a consensus rating of "Hold" and an average price target of $76.41.

Insider Buying and Selling at GE HealthCare Technologies

In other news, Director Kevin Lobo bought 10,000 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average price of $64.18 per share, with a total value of $641,800.00. Following the purchase, the director owned 14,363 shares in the company, valued at approximately $921,817.34. The trade was a 229.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Frank R. Jimenez bought 1,750 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The shares were purchased at an average cost of $60.45 per share, for a total transaction of $105,787.50. Following the purchase, the insider owned 93,932 shares in the company, valued at $5,678,189.40. This represents a 1.90% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 21,847 shares of company stock valued at $1,361,355. Corporate insiders own 0.36% of the company's stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $62.83 on Tuesday. The firm's 50 day moving average price is $63.67 and its 200-day moving average price is $71.74. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 1.22. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77. The firm has a market cap of $28.58 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.72 and a beta of 0.72.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.99 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.08). The company had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.04 billion. GE HealthCare Technologies had a return on equity of 20.46% and a net margin of 9.10%.The business's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 EPS. GE HealthCare Technologies has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.89 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 24th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, July 24th. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 3.35%.

About GE HealthCare Technologies

GE HealthCare Technologies NASDAQ: GEHC is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.

Want to see what other hedge funds are holding GEHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.