Kentucky Retirement Systems Cuts Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Kentucky Retirement Systems reduced its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,587 shares of the company’s stock after selling 2,403 shares during the quarter. Kentucky Retirement Systems’ holdings in GE HealthCare Technologies were worth $2,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Pathway Financial Advisers LLC purchased a new stake in GE HealthCare Technologies in the first quarter worth approximately $25,000. LGT Financial Advisors LLC boosted its stake in shares of GE HealthCare Technologies by 1,673.3% in the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after buying an additional 251 shares during the last quarter. Fred Alger Management LLC bought a new stake in shares of GE HealthCare Technologies in the second quarter worth $26,000. Capital Performance Advisors LLP purchased a new stake in GE HealthCare Technologies during the third quarter valued at $26,000. Finally, Ashton Thomas Securities LLC bought a new position in GE HealthCare Technologies in the third quarter valued at about $26,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Down 1.4 %

Shares of GEHC stock opened at $81.76 on Monday. The stock has a market cap of $37.35 billion, a P/E ratio of 22.46, a PEG ratio of 2.93 and a beta of 1.24. The company’s fifty day simple moving average is $88.70 and its two-hundred day simple moving average is $83.51. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies Inc. has a 52 week low of $66.39 and a 52 week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 EPS. Analysts predict that GE HealthCare Technologies Inc. will post 4.29 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. The ex-dividend date was Friday, October 18th. GE HealthCare Technologies’s payout ratio is 3.30%.

Wall Street Analyst Weigh In

GEHC has been the subject of several research reports. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target for the company. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. Evercore ISI lifted their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company raised their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus boosted their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.36.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the sale, the chief executive officer now owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by insiders.

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.