Kentucky Retirement Systems Insurance Trust Fund Has $1.18 Million Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,574 shares of the company’s stock after selling 1,118 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in GE HealthCare Technologies were worth $1,180,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEHC. Capital Research Global Investors boosted its stake in 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 worth $4,908,406,000 after purchasing an additional 2,647,204 shares during the period. Van ECK Associates Corp bought a new position in shares of GE HealthCare Technologies in the third quarter valued at $208,513,000. The Manufacturers Life Insurance Company increased its stake in shares of 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. increased its position in GE HealthCare Technologies by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,022,396 shares of the company’s stock worth $95,952,000 after buying an additional 23,448 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of GE HealthCare Technologies by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock worth $94,780,000 after acquiring an additional 19,010 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on GEHC. Wells Fargo & Company raised their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. Evercore ISI raised their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. One 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.36.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $81.76 on Monday. 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. The stock’s fifty day moving average price is $88.70 and its two-hundred day moving average price is $83.51. GE HealthCare Technologies Inc. has a one year low of $66.39 and a one year 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 (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.06 by $0.08. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. As a group, research analysts expect that GE HealthCare Technologies Inc. will post 4.29 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a $0.03 dividend. 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 payout ratio is currently 3.30%.

Insider Activity at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

GE HealthCare Technologies 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.