Kentucky Retirement Systems Sells 2,403 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Kentucky Retirement Systems decreased its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,587 shares of the company’s stock after selling 2,403 shares during the period. Kentucky Retirement Systems’ holdings in GE HealthCare Technologies were worth $2,777,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. LGT Financial Advisors LLC lifted its stake 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 worth $25,000 after purchasing an additional 251 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in GE HealthCare Technologies in the 3rd quarter worth approximately $26,000. Pathway Financial Advisers LLC purchased a new stake in GE HealthCare Technologies in the first quarter worth approximately $25,000. Capital Performance Advisors LLP bought a new position in GE HealthCare Technologies during the third quarter valued at approximately $26,000. Finally, Fred Alger Management LLC bought a new stake in shares of GE HealthCare Technologies in the 2nd quarter worth approximately $26,000. 82.06% of the stock is owned by institutional investors.

Insider Activity at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GEHC has been the topic of a number of analyst reports. Evercore ISI lifted their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company boosted their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Wednesday, September 18th. Stifel Nicolaus boosted their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $94.36.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $81.76 on Monday. GE HealthCare Technologies Inc. has a 1 year low of $66.39 and a 1 year high of $94.55. The stock has a market capitalization of $37.35 billion, a P/E ratio of 22.46, a P/E/G ratio of 2.93 and a beta of 1.24. The company’s 50-day moving average is $88.70 and its 200 day moving average is $83.51. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. GE HealthCare Technologies’s payout ratio is 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.