Arizona State Retirement System Lowers Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Arizona State Retirement System cut its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHCFree Report) by 1.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 115,828 shares of the company’s stock after selling 1,130 shares during the period. Arizona State Retirement System’s holdings in GE HealthCare Technologies were worth $7,881,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. General Electric Co. purchased a new stake in GE HealthCare Technologies in the 2nd quarter valued at about $5,002,865,000. Capital Research Global Investors purchased a new position in shares of GE HealthCare Technologies during the second quarter worth about $4,027,040,000. BlackRock Inc. purchased a new position in GE HealthCare Technologies during the 2nd quarter worth approximately $2,334,660,000. State Street Corp acquired a new position in shares of GE HealthCare Technologies in the 2nd quarter valued at $1,532,290,000. Finally, Geode Capital Management LLC acquired a new position in GE HealthCare Technologies in the second quarter valued at $601,159,000. Hedge funds and other institutional investors own 79.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GEHC shares. Morgan Stanley lowered their price objective on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Monday, December 4th. Jefferies Financial Group assumed coverage on GE HealthCare Technologies in a research report on Thursday, November 30th. They set a “hold” rating and a $80.00 target price on the stock. Finally, UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $86.00 to $66.00 in a research report on Monday, November 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.55.

Check Out Our Latest Report on GEHC

GE HealthCare Technologies Price Performance

Shares of GEHC stock opened at $74.00 on Wednesday. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $87.83. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $33.69 billion and a price-to-earnings ratio of 22.02. The firm has a fifty day moving average of $73.92 and a 200-day moving average of $71.41.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.80 billion. GE HealthCare Technologies had a net margin of 8.91% and a return on equity of 24.46%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $0.87 earnings per share. On average, equities research analysts forecast that GE HealthCare Technologies Inc. will post 3.82 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Friday, January 12th. GE HealthCare Technologies’s dividend payout ratio is 3.57%.

About GE HealthCare Technologies

(Free Report)

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, Europe, the Middle East, Africa, China, Taiwan, Mongolia, Hong Kong, and internationally.

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Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)

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