Teacher Retirement System of Texas Trims Stock Position in GE HealthCare Technologies Inc. $GEHC

Teacher Retirement System of Texas lessened its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 279,517 shares of the company’s stock after selling 8,203 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of GE HealthCare Technologies worth $20,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Convergence Investment Partners LLC purchased a new position in shares of GE HealthCare Technologies during the second quarter worth $348,000. Brookwood Investment Group LLC purchased a new position in shares of GE HealthCare Technologies during the second quarter worth $434,000. Resonant Capital Advisors LLC raised its holdings in shares of GE HealthCare Technologies by 21.2% during the second quarter. Resonant Capital Advisors LLC now owns 3,314 shares of the company’s stock worth $245,000 after purchasing an additional 579 shares during the last quarter. Leavell Investment Management Inc. raised its holdings in shares of GE HealthCare Technologies by 5.8% during the second quarter. Leavell Investment Management Inc. now owns 38,921 shares of the company’s stock worth $2,883,000 after purchasing an additional 2,143 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs raised its holdings in shares of GE HealthCare Technologies by 16.4% during the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 22,213 shares of the company’s stock worth $1,645,000 after purchasing an additional 3,128 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on GEHC shares. Weiss Ratings restated a “hold (c+)” rating on shares of GE HealthCare Technologies in a research report on Tuesday, October 14th. Wall Street Zen lowered shares of GE HealthCare Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, September 20th. Morgan Stanley set a $74.00 price target on shares of GE HealthCare Technologies in a research report on Thursday, September 18th. Zacks Research lowered shares of GE HealthCare Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, BTIG Research raised their price target on shares of GE HealthCare Technologies from $87.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.20.

GE HealthCare Technologies Stock Up 1.3%

Shares of NASDAQ GEHC opened at $79.40 on Wednesday. The company’s 50-day simple moving average is $74.99 and its 200-day simple moving average is $72.80. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The firm has a market cap of $36.25 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 2.99 and a beta of 1.13. The company has a quick ratio of 0.93, a current ratio of 1.16 and a debt-to-equity ratio of 0.85.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.15. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same quarter last year, the business earned $1.00 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 24th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, October 24th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies’s payout ratio is presently 2.87%.

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.