Public Employees Retirement Association of Colorado Sells 1,911 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Public Employees Retirement Association of Colorado lowered its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,486 shares of the company’s stock after selling 1,911 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in GE HealthCare Technologies were worth $5,317,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas acquired a new position in GE HealthCare Technologies in the first quarter valued at about $30,000. Rise Advisors LLC grew its stake in GE HealthCare Technologies by 241.4% in the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after acquiring an additional 239 shares during the period. Riverview Trust Co acquired a new position in GE HealthCare Technologies in the first quarter valued at about $31,000. Annapolis Financial Services LLC grew its stake in GE HealthCare Technologies by 171.9% in the first quarter. Annapolis Financial Services LLC now owns 348 shares of the company’s stock valued at $32,000 after acquiring an additional 220 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in GE HealthCare Technologies in the fourth quarter valued at about $30,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of research analyst reports. Bank of America decreased their target price on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Evercore ISI boosted their price target on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Citigroup boosted their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Mizuho cut their price target on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group began coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.09.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, insider Frank R. Jimenez bought 1,315 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, May 1st. The stock was bought at an average cost of $76.52 per share, with a total value of $100,623.80. Following the completion of the acquisition, the insider now directly owns 75,796 shares in the company, valued at approximately $5,799,909.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jan Makela sold 20,227 shares of the company’s 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 transaction, the chief executive officer now owns 63,348 shares of the company’s stock, valued at $5,167,296.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Frank R. Jimenez purchased 1,315 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was purchased at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the acquisition, the insider now owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The disclosure for this purchase can be found here. Insiders sold 90,482 shares of company stock valued at $7,369,137 in the last three months. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Trading Up 2.1 %

GEHC traded up $1.69 during midday trading on Monday, hitting $82.19. 1,909,338 shares of the company were exchanged, compared to its average volume of 3,081,303. The firm has a market capitalization of $37.52 billion, a P/E ratio of 23.54, a P/E/G ratio of 2.90 and a beta of 1.20. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50. The firm’s 50 day moving average price is $78.65 and its 200-day moving average price is $82.22. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, hitting the consensus estimate of $0.90. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 EPS. As a group, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio is 3.51%.

GE HealthCare Technologies Company 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.