Kentucky Retirement Systems Insurance Trust Fund Sells 574 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.1% in the first quarter, HoldingsChannel reports. The firm owned 13,374 shares of the company’s stock after selling 574 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in GE HealthCare Technologies were worth $1,216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GEHC. BNP Paribas acquired a new position in GE HealthCare Technologies in the first quarter valued at about $30,000. Rise Advisors LLC increased its holdings in shares of GE HealthCare Technologies by 241.4% in the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after acquiring an additional 239 shares in the last quarter. Riverview Trust Co bought a new stake in shares of GE HealthCare Technologies in the first quarter worth about $31,000. Annapolis Financial Services LLC increased its holdings in shares of GE HealthCare Technologies by 171.9% in the first quarter. Annapolis Financial Services LLC now owns 348 shares of the company’s stock worth $32,000 after acquiring an additional 220 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of GE HealthCare Technologies during the fourth quarter worth about $30,000. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GEHC shares. Bank of America decreased their price objective on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Citigroup increased their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Argus raised their price target on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Mizuho decreased their price target on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group began coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target for the company. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.09.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded up $1.15 during mid-day trading on Monday, reaching $81.65. The company’s stock had a trading volume of 1,187,899 shares, compared to its average volume of 3,076,293. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50. The stock has a market cap of $37.27 billion, a P/E ratio of 23.54, a PEG ratio of 2.90 and a beta of 1.20. The business has a 50-day simple moving average of $78.65 and a two-hundred day simple moving average of $82.22. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period last year, the firm posted $0.85 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.12 annualized dividend and a yield of 0.15%. GE HealthCare Technologies’s payout ratio is currently 3.51%.

Insider Buying and Selling

In related news, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the sale, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other GE HealthCare Technologies news, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the completion of the transaction, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jan Makela sold 20,227 shares of GE HealthCare Technologies stock in a transaction on Monday, May 13th. The shares were sold at an average price of $81.57, for a total value of $1,649,916.39. Following the completion of the transaction, the chief executive officer now directly owns 63,348 shares of the company’s stock, valued at $5,167,296.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,482 shares of company stock valued at $7,369,137. Insiders own 0.27% of the company’s stock.

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.