GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lowered its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 20.0% during the second quarter, Holdings Channel reports. The fund owned 70,027 shares of the company’s stock after selling 17,545 shares during the quarter. Texas Permanent School Fund Corp’s holdings in GE HealthCare Technologies were worth $5,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GEHC. Wynn Capital LLC grew its position in GE HealthCare Technologies by 4.1% during the first quarter. Wynn Capital LLC now owns 3,125 shares of the company’s stock valued at $284,000 after buying an additional 122 shares during the period. Fiduciary Trust Co grew its position in GE HealthCare Technologies by 1.8% during the fourth quarter. Fiduciary Trust Co now owns 7,696 shares of the company’s stock valued at $595,000 after buying an additional 133 shares during the period. Quent Capital LLC grew its position in GE HealthCare Technologies by 21.3% during the first quarter. Quent Capital LLC now owns 780 shares of the company’s stock valued at $71,000 after buying an additional 137 shares during the period. Tempus Wealth Planning LLC grew its position in GE HealthCare Technologies by 0.5% during the second quarter. Tempus Wealth Planning LLC now owns 30,892 shares of the company’s stock valued at $2,407,000 after buying an additional 141 shares during the period. Finally, Little House Capital LLC grew its position in GE HealthCare Technologies by 1.8% during the second quarter. Little House Capital LLC now owns 8,074 shares of the company’s stock valued at $629,000 after buying an additional 141 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $87.46 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The company’s 50-day moving average price is $82.85 and its 200-day moving average price is $83.50. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.50. The company has a market cap of $39.92 billion, a P/E ratio of 25.57, a P/E/G ratio of 3.18 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.88 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. GE HealthCare Technologies’s quarterly revenue was up .5% compared to the same quarter last year. On average, sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus initiated coverage on shares of GE HealthCare Technologies in a report on Tuesday, August 6th. They set a “buy” rating and a $100.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective on the stock. Finally, JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a report on Monday. They set a “neutral” rating and a $90.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $94.58.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the sale, the chief executive officer now directly owns 17,509 shares in the company, valued at $1,414,377.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by insiders.

GE HealthCare Technologies 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.