Teachers Retirement System of The State of Kentucky Boosts Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Teachers Retirement System of The State of Kentucky increased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 248,485 shares of the company's stock after purchasing an additional 4,672 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.05% of GE HealthCare Technologies worth $20,055,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GEHC. CoreFirst Bank & Trust bought a new position in GE HealthCare Technologies in the fourth quarter worth about $25,000. Runnymede Capital Advisors Inc. bought a new stake in GE HealthCare Technologies in the 4th quarter valued at about $28,000. Bogart Wealth LLC lifted its position in GE HealthCare Technologies by 260.0% in the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after purchasing an additional 247 shares during the last quarter. Stonebridge Financial Group LLC lifted its position in GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Finally, LGT Financial Advisors LLC raised its stake in shares of GE HealthCare Technologies by 46.2% during the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after purchasing an additional 123 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their price objective for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Morgan Stanley dropped their price target on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Piper Sandler cut their price target on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company dropped their target price on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, Evercore ISI dropped their target price on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $88.55.

GE HealthCare Technologies Stock Down 0.1%

Shares of NASDAQ GEHC traded down $0.10 during trading on Thursday, hitting $77.15. 673,946 shares of the company traded hands, compared to its average volume of 4,014,456. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.76 and a current ratio of 0.98. The business's fifty day moving average is $73.12 and its 200 day moving average is $77.17. 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 $35.33 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 2.58 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly 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. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. GE HealthCare Technologies's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

GE HealthCare Technologies declared that its board has authorized a stock repurchase program on Wednesday, April 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

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.