California Public Employees Retirement System Sells 4,111 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

California Public Employees Retirement System lowered its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 0.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 812,820 shares of the company’s stock after selling 4,111 shares during the period. California Public Employees Retirement System owned about 0.18% of GE HealthCare Technologies worth $63,546,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Schroder Investment Management Group lifted its stake in GE HealthCare Technologies by 2.1% in the 4th quarter. Schroder Investment Management Group now owns 38,069 shares of the company’s stock valued at $2,992,000 after purchasing an additional 770 shares during the last quarter. Allstate Corp acquired a new position in shares of GE HealthCare Technologies during the fourth quarter worth $1,081,000. DnB Asset Management AS lifted its stake in shares of GE HealthCare Technologies by 8.7% in the 4th quarter. DnB Asset Management AS now owns 78,582 shares of the company’s stock valued at $6,144,000 after acquiring an additional 6,257 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of GE HealthCare Technologies by 27.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 285,538 shares of the company’s stock valued at $22,323,000 after acquiring an additional 61,667 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in GE HealthCare Technologies by 3.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 150,331 shares of the company’s stock worth $11,753,000 after acquiring an additional 4,335 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GEHC. Citigroup lifted their price target on GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. The Goldman Sachs Group upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $100.00 in a research report on Tuesday, March 11th. Wells Fargo & Company upped their price target on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.73.

GE HealthCare Technologies Stock Down 1.4 %

Shares of GE HealthCare Technologies stock opened at $79.57 on Wednesday. The firm has a market cap of $36.39 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 3.19 and a beta of 1.13. The stock’s 50-day moving average is $86.46 and its 200 day moving average is $85.76. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a one year low of $74.51 and a one year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.26 by $0.19. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.23%.

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.