New York State Common Retirement Fund Trims Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

New York State Common Retirement Fund reduced its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 512,292 shares of the company’s stock after selling 48,537 shares during the period. New York State Common Retirement Fund owned approximately 0.11% of GE HealthCare Technologies worth $39,610,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GEHC. First Command Advisory Services Inc. raised its holdings in GE HealthCare Technologies by 36,900.0% in the 3rd quarter. First Command Advisory Services Inc. now owns 370 shares of the company’s stock valued at $25,000 after buying an additional 369 shares during the period. Legacy Financial Group LLC purchased a new stake in GE HealthCare Technologies during the third quarter worth about $26,000. OFI Invest Asset Management purchased a new stake in GE HealthCare Technologies during the third quarter worth about $26,000. ORG Partners LLC increased its stake in GE HealthCare Technologies by 174.2% during the third quarter. ORG Partners LLC now owns 425 shares of the company’s stock worth $29,000 after purchasing an additional 270 shares during the period. Finally, Fortitude Family Office LLC purchased a new stake in GE HealthCare Technologies during the fourth quarter worth about $29,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

GEHC stock opened at $86.72 on Thursday. The company has a market capitalization of $39.57 billion, a P/E ratio of 28.72, a PEG ratio of 3.00 and a beta of 0.94. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.50. The business has a 50 day simple moving average of $88.91 and a 200-day simple moving average of $78.27. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 1.18.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Tuesday, February 6th. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.07 by $0.11. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.97%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GEHC. Mizuho boosted their price target on shares of GE HealthCare Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Citigroup boosted their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $66.00 to $88.00 in a research report on Monday, February 12th. Morgan Stanley boosted their price objective on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Finally, HSBC started coverage on GE HealthCare Technologies in a research report on Thursday, February 15th. They set a “buy” rating and a $100.00 price objective for the company. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.09.

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.