California Public Employees Retirement System Increases Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

California Public Employees Retirement System boosted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 845,697 shares of the company's stock after purchasing an additional 11,746 shares during the period. California Public Employees Retirement System owned about 0.19% of GE HealthCare Technologies worth $65,389,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Jennison Associates LLC raised its position in shares of GE HealthCare Technologies by 49.4% in the fourth quarter. Jennison Associates LLC now owns 1,208,830 shares of the company's stock valued at $93,467,000 after buying an additional 399,961 shares in the last quarter. Cerity Partners LLC raised its position in shares of GE HealthCare Technologies by 27.2% in the fourth quarter. Cerity Partners LLC now owns 45,929 shares of the company's stock valued at $3,551,000 after buying an additional 9,809 shares in the last quarter. Fifth Third Bancorp raised its position in shares of GE HealthCare Technologies by 3.9% in the fourth quarter. Fifth Third Bancorp now owns 33,632 shares of the company's stock valued at $2,600,000 after buying an additional 1,250 shares in the last quarter. Douglas Lane & Associates LLC raised its position in shares of GE HealthCare Technologies by 22.1% in the fourth quarter. Douglas Lane & Associates LLC now owns 436,253 shares of the company's stock valued at $33,731,000 after buying an additional 79,073 shares in the last quarter. Finally, John G Ullman & Associates Inc. raised its position in shares of GE HealthCare Technologies by 93.1% in the fourth quarter. John G Ullman & Associates Inc. now owns 57,916 shares of the company's stock valued at $4,478,000 after buying an additional 27,931 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Up 0.3 %

Shares of NASDAQ GEHC traded up $0.29 during trading on Friday, hitting $86.24. 1,790,695 shares of the company traded hands, compared to its average volume of 3,297,646. The business's fifty day moving average is $88.92 and its 200 day moving average is $78.45. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.50. The firm has a market capitalization of $39.35 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 3.02 and a beta of 0.94. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.83 and a current ratio of 1.05.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.11. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. The business's quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.3 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 Wednesday, May 15th. Stockholders of record on Friday, April 19th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 18th. GE HealthCare Technologies's payout ratio is presently 3.97%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GEHC. Morgan Stanley lifted their price objective on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an "equal weight" rating in a research note on Monday, February 12th. Argus lifted their price objective on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, April 1st. Citigroup lifted their price objective on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a "buy" rating in a research note on Wednesday, April 3rd. Evercore ISI boosted their target price on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, April 4th. Finally, Mizuho boosted their target price on shares of GE HealthCare Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $95.09.

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.