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

Texas Permanent School Fund Corp increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,572 shares of the company’s stock after acquiring 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 quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Essex LLC bought a new position in GE HealthCare Technologies during the first quarter worth $218,000. Mediolanum International Funds Ltd bought a new position in shares of GE HealthCare Technologies in the first quarter valued at $8,750,000. Schwarz Dygos Wheeler Investment Advisors LLC lifted its stake 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 buying an additional 377 shares in the last quarter. Chevy Chase Trust Holdings LLC lifted its stake 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 buying an additional 15,522 shares in the last quarter. Finally, Wellington Shields Capital Management LLC lifted its stake 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 buying an additional 315 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Performance

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

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, analysts forecast that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

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

Insider Activity

In related news, CTO Taha Kass-Hout sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the sale, the chief technology officer now owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Frank R. Jimenez bought 1,315 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were acquired at an average price of $76.52 per share, with a total value of $100,623.80. Following the acquisition, the insider now owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Taha Kass-Hout sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total transaction of $259,710.00. Following the sale, the chief technology officer now directly owns 67,300 shares in the company, valued at approximately $5,296,510. The disclosure for this sale can be found here. Insiders have sold a total of 90,482 shares of company stock valued at $7,369,137 over the last quarter. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on GEHC. Bank of America dropped their price objective on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Argus raised their price target on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. The Goldman Sachs Group assumed coverage on shares of GE HealthCare Technologies in a research report on Thursday, May 30th. They set a “neutral” rating and a $87.00 price target on the stock. Citigroup raised their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, Mizuho dropped their price target on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $94.09.

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.