Kentucky Retirement Systems Insurance Trust Fund Sells 1,118 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,574 shares of the company’s stock after selling 1,118 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in GE HealthCare Technologies were worth $1,180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital Research Global Investors grew its position in shares of GE HealthCare Technologies by 5.2% in the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock valued at $4,908,406,000 after buying an additional 2,647,204 shares during the last quarter. Van ECK Associates Corp acquired a new stake in GE HealthCare Technologies during the 3rd quarter valued at approximately $208,513,000. The Manufacturers Life Insurance Company raised its holdings in GE HealthCare Technologies by 18.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock worth $97,088,000 after purchasing an additional 189,956 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of GE HealthCare Technologies by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,022,396 shares of the company’s stock worth $95,952,000 after purchasing an additional 23,448 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of GE HealthCare Technologies by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after purchasing an additional 19,010 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on GEHC. Evercore ISI boosted their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. 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. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, September 18th. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. assumed 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 objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average target price of $94.36.

GE HealthCare Technologies Stock Down 1.4 %

GEHC stock opened at $81.76 on Monday. The business has a 50 day moving average of $88.70 and a 200 day moving average of $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. The firm has a market cap of $37.35 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 2.93 and a beta of 1.24. GE HealthCare Technologies Inc. has a twelve month low of $66.39 and a twelve month high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.08. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 EPS. On average, research analysts forecast 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. Investors of record on Friday, October 18th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.30%.

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.