Sumitomo Mitsui Trust Holdings Inc. Cuts Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.0% in the 4th quarter, HoldingsChannel reports. The fund owned 1,004,544 shares of the company’s stock after selling 10,645 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in GE HealthCare Technologies were worth $77,671,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in GE HealthCare Technologies by 14.7% in the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after acquiring an additional 5,693,244 shares in the last quarter. Invesco Ltd. raised its position in GE HealthCare Technologies by 21.4% in the third quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock worth $343,484,000 after acquiring an additional 889,297 shares in the last quarter. Bank of New York Mellon Corp raised its position in GE HealthCare Technologies by 7.8% in the third quarter. Bank of New York Mellon Corp now owns 4,380,408 shares of the company’s stock worth $298,043,000 after acquiring an additional 315,808 shares in the last quarter. Northern Trust Corp raised its position in GE HealthCare Technologies by 8.9% in the third quarter. Northern Trust Corp now owns 4,205,506 shares of the company’s stock worth $286,143,000 after acquiring an additional 342,040 shares in the last quarter. Finally, Gates Capital Management Inc. raised its position in GE HealthCare Technologies by 17.5% in the third quarter. Gates Capital Management Inc. now owns 2,708,835 shares of the company’s stock worth $184,309,000 after acquiring an additional 402,900 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Down 0.8 %

GEHC opened at $85.19 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 0.83. The stock has a market capitalization of $38.87 billion, a price-to-earnings ratio of 28.21, a price-to-earnings-growth ratio of 3.00 and a beta of 0.94. The business has a 50-day moving average of $88.61 and a two-hundred day moving average of $77.65. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.50.

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

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s payout ratio is currently 3.97%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Mizuho raised their price target on GE HealthCare Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and raised their price target for the company from $66.00 to $88.00 in a research report on Monday, February 12th. Citigroup raised their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Argus raised their price target on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Evercore ISI raised their price target on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $95.08.

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.