New York State Common Retirement Fund Sells 8,500 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

New York State Common Retirement Fund cut its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,450 shares of the company’s stock after selling 8,500 shares during the period. New York State Common Retirement Fund owned about 0.05% of GE HealthCare Technologies worth $19,033,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of GEHC. Mesirow Financial Investment Management Inc. lifted its holdings in shares of GE HealthCare Technologies by 39.6% during the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock valued at $383,000 after acquiring an additional 1,159 shares during the period. Cathy Pareto & Associates Inc. acquired a new stake in shares of GE HealthCare Technologies during the 4th quarter worth about $670,000. LMR Partners LLP bought a new position in GE HealthCare Technologies during the 3rd quarter valued at about $7,387,000. Principal Financial Group Inc. boosted its position in GE HealthCare Technologies by 1.9% in the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after buying an additional 19,010 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in GE HealthCare Technologies in the third quarter valued at about $1,396,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $91.09 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a 1 year low of $74.51 and a 1 year high of $94.80. The company has a market cap of $41.66 billion, a PE ratio of 21.04, a PEG ratio of 3.19 and a beta of 1.15. The company’s 50-day moving average is $85.05 and its two-hundred day moving average is $85.86.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.33 billion. Equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup boosted their target price on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Wells Fargo & Company boosted their price objective on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average target price of $97.67.

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.