GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stock Holdings Increased by California State Teachers Retirement System

California State Teachers Retirement System lifted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 3.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 743,691 shares of the company's stock after purchasing an additional 21,637 shares during the quarter. California State Teachers Retirement System owned about 0.16% of GE HealthCare Technologies worth $58,142,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GEHC. Norges Bank purchased a new position in shares of GE HealthCare Technologies in the fourth quarter valued at $488,531,000. Capital Research Global Investors increased its stake in GE HealthCare Technologies by 4.5% during the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock worth $4,755,851,000 after buying an additional 2,608,066 shares during the period. Van ECK Associates Corp lifted its holdings in GE HealthCare Technologies by 107.3% in the 4th quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company's stock worth $378,520,000 after buying an additional 2,506,417 shares in the last quarter. Vanguard Group Inc. boosted its position in GE HealthCare Technologies by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock valued at $4,107,378,000 after buying an additional 2,155,429 shares during the last quarter. Finally, Eminence Capital LP purchased a new position in GE HealthCare Technologies in the 4th quarter valued at about $102,574,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on GEHC. The Goldman Sachs Group cut their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday. 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. Evercore ISI dropped their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Finally, Wells Fargo & Company cut their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $88.27.

GE HealthCare Technologies Price Performance

GEHC traded down $1.57 on Friday, reaching $69.96. The company had a trading volume of 7,095,456 shares, compared to its average volume of 3,452,002. The company has a market capitalization of $32.03 billion, a P/E ratio of 16.16, a PEG ratio of 3.19 and a beta of 1.21. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average of $68.96 and a 200-day moving average of $79.03. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The business had revenue of $4.78 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same period last year, the firm posted $0.90 earnings per share. The business's revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies announced that its Board of Directors has authorized a stock buyback plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Friday, April 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.95%.

About GE HealthCare Technologies

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.