Sumitomo Mitsui Trust Holdings Inc. Acquires 20,776 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHCFree Report) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,025,320 shares of the company’s stock after acquiring an additional 20,776 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.22% of GE HealthCare Technologies worth $93,212,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its holdings in shares of GE HealthCare Technologies by 3,429.2% in the third quarter. Advisors Asset Management Inc. now owns 10,517 shares of the company’s stock valued at $716,000 after purchasing an additional 10,219 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of GE HealthCare Technologies by 84.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock valued at $181,578,000 after buying an additional 1,221,436 shares during the period. Lido Advisors LLC raised its position in shares of GE HealthCare Technologies by 6.0% during the third quarter. Lido Advisors LLC now owns 8,623 shares of the company’s stock worth $587,000 after acquiring an additional 489 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in shares of GE HealthCare Technologies during the third quarter valued at $7,016,000. Finally, Royal London Asset Management Ltd. boosted its holdings in GE HealthCare Technologies by 11.1% in the third quarter. Royal London Asset Management Ltd. now owns 151,979 shares of the company’s stock valued at $10,338,000 after acquiring an additional 15,162 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

GEHC has been the topic of a number of research reports. Argus upped their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Mizuho lowered their target price on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Bank of America cut their price target on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Citigroup lifted their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, Evercore ISI increased their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.09.

Check Out Our Latest Stock Report on GEHC

Insider Transactions at GE HealthCare Technologies

In other GE HealthCare Technologies news, insider Frank R. Jimenez bought 1,315 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average price of $76.52 per share, with a total value of $100,623.80. Following the completion of the transaction, the insider now owns 75,796 shares in the company, valued at $5,799,909.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Frank R. Jimenez purchased 1,315 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were purchased at an average cost of $76.52 per share, with a total value of $100,623.80. Following the completion of the transaction, the insider now owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Taha Kass-Hout sold 3,300 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the sale, the chief technology officer now owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The disclosure for this sale can be found here. Insiders have sold a total of 90,482 shares of company stock valued at $7,369,137 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

GE HealthCare Technologies Trading Up 1.2 %

NASDAQ:GEHC opened at $77.24 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83. The business’s 50-day simple moving average is $79.13 and its 200-day simple moving average is $81.80. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.50. The stock has a market capitalization of $35.26 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 2.75 and a beta of 1.20.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the business posted $0.85 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a $0.03 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

GE HealthCare Technologies Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)

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