Texas Permanent School Fund Corp Buys 6,738 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Texas Permanent School Fund Corp grew its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 87,572 shares of the company’s stock after purchasing an additional 6,738 shares during the quarter. Texas Permanent School Fund Corp’s holdings in GE HealthCare Technologies were worth $7,961,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Essex LLC bought a new stake in shares of GE HealthCare Technologies during the first quarter valued at approximately $218,000. Mediolanum International Funds Ltd purchased a new position in shares of GE HealthCare Technologies in the first quarter valued at $8,750,000. Schwarz Dygos Wheeler Investment Advisors LLC grew its holdings in shares of GE HealthCare Technologies by 9.2% in the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 4,486 shares of the company’s stock valued at $408,000 after purchasing an additional 377 shares in the last quarter. Chevy Chase Trust Holdings LLC grew its holdings in shares of GE HealthCare Technologies by 7.1% in the first quarter. Chevy Chase Trust Holdings LLC now owns 235,436 shares of the company’s stock valued at $21,403,000 after purchasing an additional 15,522 shares in the last quarter. Finally, Wellington Shields Capital Management LLC grew its holdings in shares of GE HealthCare Technologies by 10.5% in the first quarter. Wellington Shields Capital Management LLC now owns 3,323 shares of the company’s stock valued at $302,000 after purchasing an additional 315 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GEHC shares. The Goldman Sachs Group started coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 target price for the company. Mizuho dropped their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Evercore ISI lifted their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Argus lifted their price objective on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Finally, Citigroup lifted their price objective on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average target price of $94.09.

GE HealthCare Technologies Trading Up 1.0 %

Shares of GEHC traded up $0.80 during trading hours on Thursday, reaching $79.94. 2,540,258 shares of the company traded hands, compared to its average volume of 3,132,204. The firm has a market cap of $36.49 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 2.75 and a beta of 1.20. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. The stock’s fifty day moving average price is $78.76 and its 200 day moving average price is $81.86.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, meeting the consensus estimate of $0.90. The firm had revenue of $4.65 billion during 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 firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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

Insider Activity at GE HealthCare Technologies

In related news, CEO Jan Makela sold 66,955 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total value of $5,459,510.70. Following the completion of the sale, the chief executive officer now directly owns 63,348 shares in the company, valued at $5,165,395.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GE HealthCare Technologies news, CEO Jan Makela sold 66,955 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $81.54, for a total value of $5,459,510.70. Following the completion of the transaction, the chief executive officer now directly owns 63,348 shares in the company, valued at $5,165,395.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank R. Jimenez bought 1,315 shares of GE HealthCare Technologies stock in a transaction on Wednesday, May 1st. The stock was purchased at an average price 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 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 worth $7,369,137 over the last three months. 0.27% of the stock is owned by corporate insiders.

GE HealthCare Technologies 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.