GE HealthCare Technologies Inc. (NASDAQ:GEHC) Holdings Lifted by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 156.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 287,720 shares of the company's stock after purchasing an additional 175,517 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of GE HealthCare Technologies worth $23,222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its position in GE HealthCare Technologies by 6.9% in the 4th quarter. Fisher Asset Management LLC now owns 3,624 shares of the company's stock worth $283,000 after buying an additional 233 shares in the last quarter. Smartleaf Asset Management LLC grew its position in GE HealthCare Technologies by 30.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,883 shares of the company's stock worth $148,000 after purchasing an additional 435 shares during the last quarter. Mission Wealth Management LP grew its position in GE HealthCare Technologies by 26.8% in the 4th quarter. Mission Wealth Management LP now owns 3,068 shares of the company's stock worth $240,000 after purchasing an additional 648 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in GE HealthCare Technologies by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,959,256 shares of the company's stock worth $231,355,000 after purchasing an additional 248,318 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of GE HealthCare Technologies by 0.8% during the 4th quarter. Victory Capital Management Inc. now owns 667,057 shares of the company's stock worth $52,151,000 after acquiring an additional 5,518 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $76.15 on Friday. The stock has a market cap of $34.87 billion, a P/E ratio of 16.03, a P/E/G ratio of 2.56 and a beta of 1.14. The company has a fifty day moving average price of $71.72 and a two-hundred day moving average price of $77.46. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. The company's revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its board has approved a stock repurchase plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date is Friday, July 25th. GE HealthCare Technologies's dividend payout ratio is 2.95%.

Wall Street Analysts Forecast Growth

GEHC has been the subject of several analyst reports. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their price target for the company from $74.00 to $73.00 in a report on Monday, May 5th. Citigroup lowered their price target on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Wall Street Zen upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Evercore ISI decreased their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Wells Fargo & Company reduced their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

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.

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