California Public Employees Retirement System cut its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) by 2.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 760,034 shares of the company’s stock after selling 18,914 shares during the quarter. California Public Employees Retirement System’s holdings in GE HealthCare Technologies were worth $54,099,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEHC. Auto Owners Insurance Co grew its stake in shares of GE HealthCare Technologies by 9,525.4% in the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock worth $278,725,000 after acquiring an additional 33,629,559 shares in the last quarter. Norges Bank purchased a new position in GE HealthCare Technologies in the fourth quarter valued at $596,024,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in GE HealthCare Technologies in the fourth quarter valued at $533,655,000. Cynosure Group LLC boosted its holdings in GE HealthCare Technologies by 21,045.4% in the fourth quarter. Cynosure Group LLC now owns 4,365,462 shares of the company’s stock valued at $358,055,000 after purchasing an additional 4,344,817 shares during the period. Finally, Boston Partners acquired a new position in GE HealthCare Technologies during the 3rd quarter worth $287,627,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.
GE HealthCare Technologies Trading Down 0.4%
NASDAQ:GEHC opened at $62.83 on Tuesday. The stock’s 50 day moving average price is $63.67 and its 200 day moving average price is $71.74. The company has a market capitalization of $28.58 billion, a PE ratio of 15.03, a P/E/G ratio of 1.72 and a beta of 0.72. The company has a quick ratio of 0.95, a current ratio of 1.22 and a debt-to-equity ratio of 0.95. GE HealthCare Technologies Inc. has a 52-week low of $58.75 and a 52-week high of $89.77.
GE HealthCare Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 24th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, July 24th. GE HealthCare Technologies’s dividend payout ratio is 3.35%.
Insiders Place Their Bets
In other GE HealthCare Technologies news, Director Rodney F. Hochman acquired 1,618 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $62.03 per share, for a total transaction of $100,364.54. Following the completion of the transaction, the director owned 1,618 shares of the company’s stock, valued at $100,364.54. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter J. Arduini purchased 4,169 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was bought at an average price of $59.92 per share, with a total value of $249,806.48. Following the acquisition, the chief executive officer directly owned 259,424 shares in the company, valued at approximately $15,544,686.08. This represents a 1.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 21,847 shares of company stock worth $1,361,355. Corporate insiders own 0.36% of the company’s stock.
Wall Street Analyst Weigh In
GEHC has been the topic of several recent research reports. BTIG Research restated a “buy” rating and set a $75.00 price target on shares of GE HealthCare Technologies in a report on Monday, July 13th. Mizuho decreased their price objective on GE HealthCare Technologies from $90.00 to $80.00 in a research note on Thursday, April 30th. Oppenheimer reissued an “outperform” rating and set a $85.00 price objective on shares of GE HealthCare Technologies in a research report on Thursday, April 30th. Stifel Nicolaus set a $80.00 target price on shares of GE HealthCare Technologies in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of GE HealthCare Technologies in a report on Monday, June 8th. Ten investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $76.41.
Read Our Latest Analysis on GEHC
GE HealthCare Technologies Company Profile
GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.
In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.
See Also
- Five stocks we like better than GE HealthCare Technologies
- The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence
- Is Domino’s Stock Serving Up a Buying Opportunity?
- A $1T Black Hole: SpaceX Eyes Pentagon AI to Break Free
- Why Gold Miners Could Be the Market’s Biggest Comeback Story
Want to see what other hedge funds are holding GEHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report).
Receive News & Ratings for GE HealthCare Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GE HealthCare Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
