Public Employees Retirement System of Ohio Acquires Shares of 157,608 GE HealthCare Technologies Inc. $GEHC

Public Employees Retirement System of Ohio bought a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 157,608 shares of the company’s stock, valued at approximately $10,088,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Godfrey Financial Associates Inc. bought a new position in shares of GE HealthCare Technologies in the fourth quarter worth about $27,000. Montag A & Associates Inc. lifted its holdings in GE HealthCare Technologies by 105.4% during the 4th quarter. Montag A & Associates Inc. now owns 341 shares of the company’s stock valued at $28,000 after buying an additional 175 shares in the last quarter. Transamerica Financial Advisors LLC lifted its holdings in GE HealthCare Technologies by 331.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company’s stock valued at $28,000 after buying an additional 262 shares in the last quarter. Physician Wealth Advisors Inc. boosted its position in GE HealthCare Technologies by 60.4% in the 1st quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company’s stock valued at $31,000 after buying an additional 163 shares during the period. Finally, MV Capital Management Inc. purchased a new stake in GE HealthCare Technologies in the 4th quarter valued at about $33,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GEHC shares. Royal Bank Of Canada initiated coverage on shares of GE HealthCare Technologies in a research report on Tuesday, June 23rd. They set an “outperform” rating and a $80.00 target price on the stock. Hovde Group started coverage on GE HealthCare Technologies in a report on Friday, July 17th. They issued a “market perform” rating and a $14.00 price target for the company. Oppenheimer reissued an “outperform” rating on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. Piper Sandler restated a “buy” rating on shares of GE HealthCare Technologies in a report on Wednesday, July 29th. Finally, Wells Fargo & Company lifted their target price on GE HealthCare Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Ten 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, the company currently has a consensus rating of “Hold” and a consensus price target of $77.73.

GE HealthCare Technologies Trading Down 0.7%

NASDAQ:GEHC opened at $71.23 on Tuesday. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. The firm has a market cap of $32.17 billion, a P/E ratio of 16.34, a P/E/G ratio of 2.07 and a beta of 0.69. The firm has a 50-day simple moving average of $67.89 and a 200-day simple moving average of $69.20.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results 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 firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the prior year, the company earned $1.06 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. Equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

GE HealthCare Technologies Profile

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.