Public Employees Retirement Association of Colorado Decreases Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Public Employees Retirement Association of Colorado trimmed its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 58,486 shares of the company’s stock after selling 1,911 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in GE HealthCare Technologies were worth $5,317,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC lifted its holdings in GE HealthCare Technologies by 49.4% during the fourth quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock valued at $93,467,000 after purchasing an additional 399,961 shares in the last quarter. South Dakota Investment Council lifted its stake in shares of GE HealthCare Technologies by 272.1% in the fourth quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock worth $7,598,000 after buying an additional 71,857 shares in the last quarter. US Bancorp DE lifted its stake in shares of GE HealthCare Technologies by 83.4% in the fourth quarter. US Bancorp DE now owns 146,524 shares of the company’s stock worth $11,329,000 after buying an additional 66,638 shares in the last quarter. Cerity Partners LLC lifted its stake 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 worth $3,551,000 after buying an additional 9,809 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake 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 worth $2,600,000 after buying an additional 1,250 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GE HealthCare Technologies

In other news, insider Frank R. Jimenez acquired 1,315 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average cost of $76.52 per share, with a total value of $100,623.80. Following the transaction, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Frank R. Jimenez bought 1,315 shares of the stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the acquisition, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Taha Kass-Hout sold 3,300 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the transaction, the chief technology officer now owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,482 shares of company stock valued at $7,369,137. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Up 2.1 %

GEHC traded up $1.69 during trading hours on Monday, hitting $82.19. 1,909,338 shares of the company’s stock were exchanged, compared to its average volume of 3,081,303. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50. The firm has a 50 day moving average of $78.65 and a 200 day moving average of $82.22. The firm has a market cap of $37.52 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 2.90 and a beta of 1.20. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, hitting the consensus estimate of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. Analysts predict that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

Analysts Set New Price Targets

GEHC has been the topic of several recent analyst reports. Mizuho decreased their target price on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Bank of America decreased their target price on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Evercore ISI boosted their target price on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Argus boosted their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, The Goldman Sachs Group initiated coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 target price on the stock. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.09.

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.