California Public Employees Retirement System Sells 4,111 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

California Public Employees Retirement System decreased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 812,820 shares of the company's stock after selling 4,111 shares during the quarter. California Public Employees Retirement System owned 0.18% of GE HealthCare Technologies worth $63,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. CoreFirst Bank & Trust bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth approximately $25,000. Continuum Advisory LLC raised its position in GE HealthCare Technologies by 101.8% in the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company's stock worth $31,000 after purchasing an additional 168 shares during the period. Runnymede Capital Advisors Inc. bought a new stake in GE HealthCare Technologies in the fourth quarter worth $28,000. Bank of Jackson Hole Trust purchased a new stake in GE HealthCare Technologies during the fourth quarter valued at about $32,000. Finally, Flagship Wealth Advisors LLC bought a new position in shares of GE HealthCare Technologies during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Down 16.0 %

GEHC traded down $11.49 on Friday, hitting $60.51. The company had a trading volume of 16,885,304 shares, compared to its average volume of 3,023,599. GE HealthCare Technologies Inc. has a 52-week low of $58.04 and a 52-week high of $94.80. The stock has a fifty day simple moving average of $85.41 and a 200-day simple moving average of $85.40. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The firm has a market capitalization of $27.67 billion, a P/E ratio of 13.97, a P/E/G ratio of 3.19 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.19. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. As a group, equities analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be paid a $0.035 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.23%. GE HealthCare Technologies's payout ratio is 3.23%.

Analysts Set New Price Targets

Several brokerages recently weighed in on GEHC. Citigroup increased their target price on GE HealthCare Technologies from $103.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, February 13th. The Goldman Sachs Group raised GE HealthCare Technologies from a "neutral" rating to a "buy" rating and increased their price objective for the company from $85.00 to $100.00 in a research note on Tuesday, March 11th. Wells Fargo & Company lifted their target price on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating and raised their price target for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $97.73.

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.