Illinois Municipal Retirement Fund Sells 25,537 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Illinois Municipal Retirement Fund decreased its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 25.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,804 shares of the company’s stock after selling 25,537 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in GE HealthCare Technologies were worth $5,707,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. National Bank of Canada FI boosted its stake in GE HealthCare Technologies by 3.2% during the 3rd quarter. National Bank of Canada FI now owns 23,714 shares of the company’s stock worth $1,607,000 after acquiring an additional 726 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of GE HealthCare Technologies by 6.7% during the third quarter. International Assets Investment Management LLC now owns 7,329 shares of the company’s stock worth $500,000 after purchasing an additional 459 shares in the last quarter. AE Wealth Management LLC boosted its position in shares of GE HealthCare Technologies by 4.0% during the third quarter. AE Wealth Management LLC now owns 10,810 shares of the company’s stock worth $735,000 after purchasing an additional 420 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of GE HealthCare Technologies by 53.8% in the 3rd quarter. IFP Advisors Inc now owns 2,320 shares of the company’s stock valued at $158,000 after buying an additional 812 shares during the period. Finally, HB Wealth Management LLC increased its position in shares of GE HealthCare Technologies by 34.5% in the 3rd quarter. HB Wealth Management LLC now owns 4,504 shares of the company’s stock valued at $306,000 after buying an additional 1,155 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

GEHC has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and raised their price target for the stock from $66.00 to $88.00 in a research report on Monday, February 12th. Mizuho boosted their price objective on GE HealthCare Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Evercore ISI increased their target price on 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, HSBC initiated coverage on shares of GE HealthCare Technologies in a research note on Thursday, February 15th. They issued a “buy” rating and a $100.00 price target on the stock. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average price target of $95.09.

GE HealthCare Technologies Price Performance

NASDAQ GEHC opened at $86.24 on Wednesday. The firm’s 50 day moving average is $88.84 and its 200-day moving average is $78.21. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $39.35 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 2.93 and a beta of 0.94. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter last year, the firm earned $1.31 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio is currently 3.97%.

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.