Sumitomo Mitsui Trust Holdings Inc. Trims Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,004,544 shares of the company’s stock after selling 10,645 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.22% of GE HealthCare Technologies worth $77,671,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in GE HealthCare Technologies by 14.7% during the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock valued at $3,029,917,000 after buying an additional 5,693,244 shares during the last quarter. Invesco Ltd. increased its holdings in GE HealthCare Technologies by 21.4% during the third quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock valued at $343,484,000 after buying an additional 889,297 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in GE HealthCare Technologies by 7.8% during the third quarter. Bank of New York Mellon Corp now owns 4,380,408 shares of the company’s stock valued at $298,043,000 after buying an additional 315,808 shares during the last quarter. Northern Trust Corp increased its holdings in GE HealthCare Technologies by 8.9% during the third quarter. Northern Trust Corp now owns 4,205,506 shares of the company’s stock valued at $286,143,000 after buying an additional 342,040 shares during the last quarter. Finally, Gates Capital Management Inc. increased its holdings in GE HealthCare Technologies by 17.5% during the third quarter. Gates Capital Management Inc. now owns 2,708,835 shares of the company’s stock valued at $184,309,000 after buying an additional 402,900 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GEHC shares. HSBC started coverage on shares of GE HealthCare Technologies in a research report on Thursday, February 15th. They issued a “buy” rating and a $100.00 price target for the company. Argus upped their price target on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and upped their price target for the stock from $66.00 to $88.00 in a research report on Monday, February 12th. Evercore ISI upped their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Mizuho upped their price target on shares of GE HealthCare Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.08.

GE HealthCare Technologies Trading Down 0.8 %

Shares of GEHC opened at $85.19 on Thursday. 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 $38.87 billion, a P/E ratio of 28.21, a P/E/G ratio of 3.00 and a beta of 0.94. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 1.18. The company’s fifty day simple moving average is $88.61 and its 200-day simple moving average is $77.65.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.11. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the prior year, the firm posted $1.31 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio is presently 3.97%.

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.