Retirement Systems of Alabama Has $9.43 Million Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Retirement Systems of Alabama boosted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 7.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,505 shares of the company's stock after acquiring an additional 6,862 shares during the period. Retirement Systems of Alabama's holdings in GE HealthCare Technologies were worth $9,432,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mesirow Financial Investment Management Inc. raised its stake in shares of GE HealthCare Technologies by 39.6% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company's stock valued at $383,000 after buying an additional 1,159 shares during the last quarter. LMR Partners LLP acquired a new position in shares of GE HealthCare Technologies in the 3rd quarter valued at $7,387,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in GE HealthCare Technologies during the third quarter worth $1,396,000. Bank of Montreal Can grew its position in GE HealthCare Technologies by 27.5% during the second quarter. Bank of Montreal Can now owns 696,446 shares of the company's stock valued at $54,964,000 after buying an additional 150,137 shares during the period. Finally, Douglas Lane & Associates LLC increased its holdings in GE HealthCare Technologies by 2.2% in the third quarter. Douglas Lane & Associates LLC now owns 460,004 shares of the company's stock valued at $43,171,000 after buying an additional 10,099 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

GEHC traded down $1.04 on Tuesday, reaching $79.25. The company had a trading volume of 3,555,793 shares, compared to its average volume of 3,054,288. GE HealthCare Technologies Inc. has a one year low of $71.31 and a one year high of $94.55. The company has a market capitalization of $36.21 billion, a P/E ratio of 21.77, a PEG ratio of 2.96 and a beta of 1.07. The company has a fifty day moving average of $85.41 and a 200-day moving average of $83.80. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.08. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the business earned $0.99 earnings per share. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be given a $0.035 dividend. This is a positive change from GE HealthCare Technologies's previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. GE HealthCare Technologies's dividend payout ratio (DPR) is 3.85%.

Analyst Ratings Changes

Several research firms recently commented on GEHC. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a "neutral" rating and a $90.00 price target for the company. Evercore ISI lifted their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. UBS Group lowered shares of GE HealthCare Technologies from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $84.00 to $74.00 in a report on Thursday, September 26th. BTIG Research upgraded shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a report on Wednesday, September 18th. Finally, Wells Fargo & Company upped their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $95.46.

Insider Buying and Selling

In other news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the sale, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by company insiders.

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.