Louisiana State Employees Retirement System Cuts Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Louisiana State Employees Retirement System cut its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,000 shares of the company’s stock after selling 2,500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in GE HealthCare Technologies were worth $4,534,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC boosted its holdings in GE HealthCare Technologies by 1,673.3% in the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after purchasing an additional 251 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new stake in shares of GE HealthCare Technologies in the third quarter valued at approximately $26,000. Darwin Wealth Management LLC acquired a new position in GE HealthCare Technologies during the third quarter worth $31,000. Finally, Continuum Advisory LLC raised its position in GE HealthCare Technologies by 101.8% in the third quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock worth $31,000 after acquiring an additional 168 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Down 1.3 %

Shares of NASDAQ GEHC opened at $85.90 on Thursday. The firm’s 50-day moving average is $83.58 and its two-hundred day moving average is $85.39. The company has a market capitalization of $39.25 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 2.93 and a beta of 1.15. GE HealthCare Technologies Inc. has a 12-month low of $74.51 and a 12-month high of $94.55. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98.

GE HealthCare Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be paid a $0.035 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.16%. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio is presently 3.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GEHC shares. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.77.

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.