New York State Teachers Retirement System Sells 2,002 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

New York State Teachers Retirement System reduced its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 0.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 360,377 shares of the company’s stock after selling 2,002 shares during the period. New York State Teachers Retirement System’s holdings in GE HealthCare Technologies were worth $28,174,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cherry Creek Investment Advisors Inc. raised its position in shares of GE HealthCare Technologies by 0.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock worth $2,920,000 after acquiring an additional 114 shares in the last quarter. Independence Bank of Kentucky grew its stake in GE HealthCare Technologies by 6.0% in the fourth quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock worth $158,000 after purchasing an additional 114 shares during the period. Tandem Capital Management Corp ADV raised its holdings in GE HealthCare Technologies by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock worth $2,205,000 after purchasing an additional 118 shares in the last quarter. Arcus Capital Partners LLC lifted its position in GE HealthCare Technologies by 3.0% during the fourth quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock valued at $322,000 after buying an additional 119 shares during the period. Finally, Custom Index Systems LLC grew its position in shares of GE HealthCare Technologies by 4.4% in the 4th quarter. Custom Index Systems LLC now owns 2,843 shares of the company’s stock worth $222,000 after buying an additional 120 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $92.21 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The firm has a market cap of $42.13 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 2.93 and a beta of 1.15. The business has a 50-day simple moving average of $84.03 and a two-hundred day simple moving average of $85.53. GE HealthCare Technologies Inc. has a fifty-two week low of $74.51 and a fifty-two week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.33 billion. On average, analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th were paid a $0.035 dividend. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GEHC shares. Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. Finally, Citigroup increased their target price on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average price target of $97.67.

GE HealthCare Technologies Company 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.