State of New Jersey Common Pension Fund D Has $12.24 Million Stake in GE HealthCare Technologies Inc. $GEHC

Key Points

• The State of New Jersey Common Pension Fund D has decreased its stake in GE HealthCare Technologies by 6.1%, selling 9,931 shares, leaving it with 151,659 shares worth approximately $12.24 million.
• Several institutional investors have recently adjusted their holdings in GE HealthCare, with notable increases from Bogart Wealth LLC and Stonebridge Financial Group LLC, reflecting a trend where institutional investors own 82.06% of the company's stock.
• GE HealthCare announced a $1 billion share buyback plan which may indicate confidence in its market position, alongside a quarterly dividend of $0.035 per share reflecting a 0.2% yield.

State of New Jersey Common Pension Fund D trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 6.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 151,659 shares of the company's stock after selling 9,931 shares during the period. State of New Jersey Common Pension Fund D's holdings in GE HealthCare Technologies were worth $12,240,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new position in shares of GE HealthCare Technologies during the 4th quarter worth about $20,891,000. Breakwater Capital Group bought a new position in shares of GE HealthCare Technologies during the 1st quarter worth about $210,000. Bessemer Group Inc. lifted its holdings in shares of GE HealthCare Technologies by 24.3% during the 1st quarter. Bessemer Group Inc. now owns 6,671 shares of the company's stock worth $538,000 after acquiring an additional 1,306 shares during the period. Flagship Harbor Advisors LLC lifted its holdings in GE HealthCare Technologies by 17.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company's stock valued at $278,000 after purchasing an additional 511 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in GE HealthCare Technologies by 23.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company's stock valued at $4,105,000 after purchasing an additional 9,769 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Price Performance

GEHC traded down $0.72 during midday trading on Thursday, hitting $73.15. The company had a trading volume of 2,282,200 shares, compared to its average volume of 4,021,406. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16. The company has a market capitalization of $33.40 billion, a PE ratio of 14.99, a P/E/G ratio of 2.83 and a beta of 1.13. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The firm's 50-day simple moving average is $73.94 and its 200-day simple moving average is $75.40.

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

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.2%. The ex-dividend date was Friday, July 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.87%.

GE HealthCare Technologies announced that its board has authorized a stock repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently issued reports on GEHC shares. BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Piper Sandler cut their price target on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group cut their price target on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Morgan Stanley cut their price target on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st. Finally, Citigroup lifted their price target on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.55.

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.