GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stock Position Raised by State of Michigan Retirement System

State of Michigan Retirement System lifted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 8.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 514,053 shares of the company's stock after acquiring an additional 40,100 shares during the period. State of Michigan Retirement System owned 0.11% of GE HealthCare Technologies worth $41,489,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in GE HealthCare Technologies in the 4th quarter valued at about $20,891,000. Breakwater Capital Group bought a new position in GE HealthCare Technologies in the 1st quarter valued at about $210,000. Flagship Harbor Advisors LLC grew its position in GE HealthCare Technologies by 17.4% in the 1st quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company's stock valued at $278,000 after buying an additional 511 shares in the last quarter. Bessemer Group Inc. grew its position in GE HealthCare Technologies by 24.3% in the 1st quarter. Bessemer Group Inc. now owns 6,671 shares of the company's stock valued at $538,000 after buying an additional 1,306 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of GE HealthCare Technologies by 23.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company's stock valued at $4,105,000 after buying an additional 9,769 shares during the period. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Down 0.9%

NASDAQ GEHC traded down $0.68 during trading on Monday, reaching $74.45. 2,236,671 shares of the company's stock were exchanged, compared to its average volume of 4,029,788. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The firm has a market capitalization of $34.09 billion, a PE ratio of 15.67, a P/E/G ratio of 2.53 and a beta of 1.14. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. The company's fifty day simple moving average is $72.36 and its 200-day simple moving average is $77.33.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the company posted $0.90 EPS. The business's quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies announced that its Board of Directors has approved a share buyback program on Wednesday, April 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.19%. GE HealthCare Technologies's payout ratio is presently 2.95%.

Analyst Upgrades and Downgrades

GEHC has been the subject of several research reports. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the company a "buy" rating in a research note on Monday, April 14th. Citigroup raised their target price on GE HealthCare Technologies from $86.00 to $89.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. The Goldman Sachs Group decreased their target price on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Morgan Stanley decreased their price target on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.55.

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.