GE HealthCare Technologies Inc. $GEHC Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,194,405 shares of the company’s stock after selling 62,766 shares during the period. Bank of New York Mellon Corp owned 0.70% of GE HealthCare Technologies worth $239,900,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Godsey & Gibb Inc. purchased a new stake in shares of GE HealthCare Technologies in the third quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in GE HealthCare Technologies by 130.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 346 shares of the company’s stock valued at $26,000 after purchasing an additional 196 shares during the last quarter. Allianz SE boosted its holdings in GE HealthCare Technologies by 165.2% in the 2nd quarter. Allianz SE now owns 350 shares of the company’s stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. Gladwyn Financial Advisors Inc. purchased a new stake in shares of GE HealthCare Technologies in the 2nd quarter valued at approximately $34,000. Finally, Piscataqua Savings Bank increased its holdings in shares of GE HealthCare Technologies by 173.4% during the 3rd quarter. Piscataqua Savings Bank now owns 473 shares of the company’s stock worth $36,000 after buying an additional 300 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Morgan Stanley increased their price objective on GE HealthCare Technologies from $74.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and increased their price target for the stock from $73.00 to $77.00 in a report on Thursday, January 15th. Evercore ISI reissued an “outperform” rating and set a $95.00 price objective on shares of GE HealthCare Technologies in a research report on Monday, January 5th. Citigroup upped their target price on shares of GE HealthCare Technologies from $83.00 to $88.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Finally, Barclays assumed coverage on shares of GE HealthCare Technologies in a research report on Monday, October 13th. They set an “equal weight” rating and a $86.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $89.83.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock opened at $78.78 on Friday. The stock has a market capitalization of $35.89 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 2.39 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.18 and a quick ratio of 0.95. The business has a 50-day moving average of $82.58 and a 200 day moving average of $77.32. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.02. GE HealthCare Technologies had a net margin of 10.94% and a return on equity of 22.52%. The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the prior year, the company earned $1.14 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 9th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, January 9th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 2.89%.

GE HealthCare Technologies Company 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.