Kentucky Retirement Systems Insurance Trust Fund Invests $1.07 Million in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,222 shares of the company's stock, valued at approximately $1,067,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. CoreFirst Bank & Trust purchased a new position in shares of GE HealthCare Technologies in the fourth quarter worth about $25,000. Runnymede Capital Advisors Inc. bought a new position in GE HealthCare Technologies during the 4th quarter worth approximately $28,000. LGT Financial Advisors LLC increased its stake in GE HealthCare Technologies by 46.2% in the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after purchasing an additional 123 shares during the period. Accredited Wealth Management LLC bought a new stake in GE HealthCare Technologies in the fourth quarter valued at approximately $30,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $31,000. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Up 1.1%

GEHC traded up $0.77 on Wednesday, hitting $72.75. The company had a trading volume of 5,237,077 shares, compared to its average volume of 3,509,047. The stock has a fifty day simple moving average of $70.11 and a 200-day simple moving average of $77.75. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76. The firm has a market capitalization of $33.31 billion, a P/E ratio of 15.32, a P/E/G ratio of 2.43 and a beta of 1.13. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating 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 company had revenue of $4.78 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same quarter last year, the business posted $0.90 EPS. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies declared that its Board of Directors has initiated a share buyback plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were paid a $0.035 dividend. The ex-dividend date was Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.19%. GE HealthCare Technologies's payout ratio is 2.95%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. The Goldman Sachs Group decreased their price objective on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company lowered their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Citigroup cut their target price on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price target for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

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.