Kentucky Retirement Systems Insurance Trust Fund Buys New Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 13,222 shares of the company’s stock, valued at approximately $1,067,000.

A number of other large investors have also recently bought and sold shares of the stock. Capital Research Global Investors grew its position in GE HealthCare Technologies by 4.5% in the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company’s stock valued at $4,755,851,000 after acquiring an additional 2,608,066 shares during the period. Vanguard Group Inc. increased its stake in shares of GE HealthCare Technologies by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after buying an additional 2,155,429 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of GE HealthCare Technologies by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company’s stock valued at $882,777,000 after buying an additional 342,819 shares in the last quarter. Invesco Ltd. boosted its holdings in GE HealthCare Technologies by 18.4% in the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company’s stock valued at $630,751,000 after acquiring an additional 1,252,613 shares during the last quarter. Finally, Norges Bank bought a new position in GE HealthCare Technologies in the fourth quarter valued at about $488,531,000. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on GEHC. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and decreased their price target for the company from $74.00 to $73.00 in a report on Monday, May 5th. The Goldman Sachs Group decreased their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Evercore ISI decreased their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Wall Street Zen upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. Finally, BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the stock a “buy” rating in a report on Monday, April 14th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $88.27.

GE HealthCare Technologies Trading Down 0.2%

NASDAQ:GEHC opened at $71.16 on Tuesday. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76. The stock has a market capitalization of $32.58 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14. The business’s 50-day simple moving average is $69.71 and its 200-day simple moving average is $77.83.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. The business had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the business posted $0.90 EPS. GE HealthCare Technologies’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies declared that its board has authorized a stock buyback plan on Wednesday, April 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.20%. The ex-dividend date was Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 2.95%.

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.