GE HealthCare Technologies Inc. $GEHC Stock Position Lowered by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.1% during the second quarter, Holdings Channel reports. The institutional investor owned 343,381 shares of the company’s stock after selling 3,737 shares during the quarter. New York State Teachers Retirement System’s holdings in GE HealthCare Technologies were worth $25,434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GEHC. JPMorgan Chase & Co. raised its stake in shares of GE HealthCare Technologies by 49.9% in the 1st quarter. JPMorgan Chase & Co. now owns 5,140,549 shares of the company’s stock worth $414,894,000 after buying an additional 1,711,963 shares in the last quarter. Nuveen LLC bought a new stake in shares of GE HealthCare Technologies in the 1st quarter worth $77,058,000. Eminence Capital LP raised its stake in shares of GE HealthCare Technologies by 38.7% in the 1st quarter. Eminence Capital LP now owns 1,819,129 shares of the company’s stock worth $146,822,000 after buying an additional 507,101 shares in the last quarter. Homestead Advisers Corp raised its stake in shares of GE HealthCare Technologies by 92.7% in the 1st quarter. Homestead Advisers Corp now owns 988,600 shares of the company’s stock worth $79,790,000 after buying an additional 475,500 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of GE HealthCare Technologies by 15.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,111,398 shares of the company’s stock worth $251,121,000 after buying an additional 409,636 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $74.05 on Friday. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $33.81 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 2.80 and a beta of 1.13. The stock’s fifty day simple moving average is $74.51 and its 200-day simple moving average is $72.08.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.15. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The business had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. GE HealthCare Technologies’s revenue for the quarter was up 3.5% compared to the same quarter last year. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. On average, sell-side 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 declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be issued a dividend of $0.035 per share. The ex-dividend date is Friday, October 24th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies’s payout ratio is currently 2.87%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley set a $74.00 target price on GE HealthCare Technologies in a report on Thursday, September 18th. Weiss Ratings restated a “hold (c+)” rating on shares of GE HealthCare Technologies in a report on Tuesday. Zacks Research cut GE HealthCare Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Barclays assumed coverage on GE HealthCare Technologies in a report on Monday. They issued an “equal weight” rating and a $86.00 target price on the stock. Finally, BTIG Research lifted their target price on GE HealthCare Technologies from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average price target of $85.20.

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.