GE HealthCare Technologies Inc. $GEHC Shares Sold by New York State Teachers Retirement System

Key Points

• The New York State Teachers Retirement System reduced its stake in GE HealthCare Technologies by 1.1%, now holding 343,381 shares worth approximately $25.4 million.
• GE HealthCare reported a quarterly earnings per share of $1.06, exceeding analysts' expectations, and showed a 3.5% increase in revenue year-over-year, amounting to $5 billion.
• The company declared a quarterly dividend of $0.035 per share, with an ex-dividend date set for October 24th, reflecting a 0.2% annual yield.

New York State Teachers Retirement System decreased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 343,381 shares of the company's stock after selling 3,737 shares during the quarter. New York State Teachers Retirement System owned 0.07% of GE HealthCare Technologies worth $25,434,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Mutual Advisors LLC grew its position in shares of GE HealthCare Technologies by 3.1% in the 2nd quarter. Mutual Advisors LLC now owns 6,589 shares of the company's stock worth $511,000 after acquiring an additional 199 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in shares of GE HealthCare Technologies in the 2nd quarter worth approximately $1,641,000. Harbour Investments Inc. grew its position in shares of GE HealthCare Technologies by 6.7% in the 2nd quarter. Harbour Investments Inc. now owns 3,763 shares of the company's stock worth $279,000 after acquiring an additional 237 shares in the last quarter. J.Safra Asset Management Corp grew its position in shares of GE HealthCare Technologies by 13.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 3,304 shares of the company's stock worth $246,000 after acquiring an additional 384 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in shares of GE HealthCare Technologies by 8.9% in the 2nd quarter. Wilmington Savings Fund Society FSB now owns 10,114 shares of the company's stock worth $749,000 after acquiring an additional 826 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Trading Up 0.9%

Shares of GEHC stock opened at $74.05 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year high of $94.80. The stock has a fifty day moving average of $74.51 and a two-hundred day moving average of $72.08. The firm has a market capitalization of $33.81 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 2.80 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.15. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The company had revenue of $5 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. The firm's quarterly revenue was up 3.5% on a year-over-year basis. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. As a group, research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, October 24th. GE HealthCare Technologies's payout ratio is 2.87%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GEHC shares. Zacks Research lowered GE HealthCare Technologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Citigroup downgraded GE HealthCare Technologies from a "buy" rating to a "neutral" rating and cut their price target for the stock from $93.00 to $83.00 in a report on Tuesday, October 7th. BTIG Research raised their price target on GE HealthCare Technologies from $87.00 to $89.00 and gave the stock a "buy" rating in a report on Monday. Wall Street Zen downgraded GE HealthCare Technologies from a "buy" rating to a "hold" rating in a report on Saturday, September 20th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of GE HealthCare Technologies in a report on Tuesday. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $85.20.

GE HealthCare Technologies 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.

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