GE HealthCare Technologies Inc. $GEHC Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System grew its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5,693.1% during the 2nd quarter, Holdings Channel reports. The fund owned 40,913,912 shares of the company’s stock after acquiring an additional 40,207,660 shares during the period. California State Teachers Retirement System owned about 0.09% of GE HealthCare Technologies worth $2,618,900,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Godfrey Financial Associates Inc. purchased a new stake in GE HealthCare Technologies during the 4th quarter worth about $27,000. Transamerica Financial Advisors LLC raised its stake in GE HealthCare Technologies by 331.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company’s stock valued at $28,000 after purchasing an additional 262 shares during the last quarter. MV Capital Management Inc. purchased a new position in GE HealthCare Technologies in the 4th quarter valued at about $33,000. NBH Bank purchased a new position in GE HealthCare Technologies in the 2nd quarter valued at about $26,000. Finally, Zions Bancorporation National Association UT boosted its stake in shares of GE HealthCare Technologies by 125.1% during the 4th quarter. Zions Bancorporation National Association UT now owns 412 shares of the company’s stock worth $34,000 after purchasing an additional 229 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Oppenheimer reiterated an “outperform” rating on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Evercore reissued an “outperform” rating and set a $84.00 price objective on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. Zacks Research upgraded shares of GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada initiated coverage on shares of GE HealthCare Technologies in a research note on Tuesday, June 23rd. They issued an “outperform” rating and a $80.00 target price for the company. Finally, Wells Fargo & Company boosted their price target on GE HealthCare Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Hold” and a consensus price target of $77.73.

GE HealthCare Technologies Stock Down 1.4%

GEHC opened at $64.24 on Friday. GE HealthCare Technologies Inc. has a 12 month low of $58.75 and a 12 month high of $89.77. The business has a 50-day moving average of $68.40 and a two-hundred day moving average of $68.46. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97. The stock has a market capitalization of $29.02 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.72 and a beta of 0.70.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period in the prior year, the firm posted $1.06 EPS. The company’s revenue was up 5.8% on a year-over-year basis. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 24th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $0.14 annualized dividend and a yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio is 3.21%.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology, pharmaceutical diagnostics and digital solutions company headquartered in Chicago, Illinois. The company provides products and services designed to support healthcare providers across diagnostic imaging, clinical care and treatment planning.

Its portfolio includes imaging systems such as magnetic resonance imaging, computed tomography, molecular imaging, X-ray and surgical imaging equipment. GE HealthCare also offers ultrasound systems, patient monitoring and care solutions, anesthesia delivery and respiratory care products, maternal and infant care technologies, and healthcare information technology.

The company’s Pharmaceutical Diagnostics business develops and supplies contrast media and radiopharmaceuticals used to enhance medical imaging and support the detection and monitoring of disease.