Teachers Insurance & Annuity Association of America Acquires New Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Teachers Insurance & Annuity Association of America bought a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 537 shares of the company’s stock, valued at approximately $50,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Pathway Financial Advisers LLC purchased a new position in shares of GE HealthCare Technologies during the first quarter worth about $25,000. LGT Financial Advisors LLC lifted its position in GE HealthCare Technologies by 1,673.3% during the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after purchasing an additional 251 shares during the last quarter. Fred Alger Management LLC purchased a new position in GE HealthCare Technologies in the 2nd quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new position in shares of GE HealthCare Technologies in the 3rd quarter worth $26,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of GE HealthCare Technologies during the 3rd quarter valued at $26,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

GEHC has been the subject of several research reports. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Wednesday, September 18th. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price for the company. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their price target for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Finally, Wells Fargo & Company boosted their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average target price of $94.36.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by corporate insiders.

GE HealthCare Technologies Trading Up 0.6 %

Shares of GEHC stock traded up $0.49 during trading hours on Thursday, reaching $83.00. The company’s stock had a trading volume of 1,807,975 shares, compared to its average volume of 3,079,142. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $37.92 billion, a P/E ratio of 22.80, a P/E/G ratio of 2.96 and a beta of 1.24. The firm’s fifty day simple moving average is $88.19 and its 200 day simple moving average is $83.61. GE HealthCare Technologies Inc. has a one year low of $66.39 and a one year high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the prior year, the business earned $0.99 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. 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. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.30%.

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.