Bank of New York Mellon Corp Cuts Holdings in GE HealthCare Technologies Inc. $GEHC

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

Several other hedge funds and other institutional investors have also made changes to their positions in GEHC. Allianz SE increased its stake in shares of GE HealthCare Technologies by 165.2% during the second quarter. Allianz SE now owns 350 shares of the company’s stock worth $26,000 after buying an additional 218 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its stake in GE HealthCare Technologies by 130.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 346 shares of the company’s stock worth $26,000 after acquiring an additional 196 shares during the last quarter. Godsey & Gibb Inc. acquired a new position in GE HealthCare Technologies during the 3rd quarter worth approximately $26,000. 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 raised its holdings in shares of GE HealthCare Technologies by 173.4% in the 3rd quarter. Piscataqua Savings Bank now owns 473 shares of the company’s stock valued at $36,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Down 0.6%

NASDAQ:GEHC opened at $78.78 on Friday. The company has a market capitalization of $35.89 billion, a PE ratio of 16.28, a P/E/G ratio of 2.39 and a beta of 1.08. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The stock’s 50 day moving average price is $82.58 and its 200 day moving average price is $77.32. The company has a quick ratio of 0.95, a current ratio of 1.18 and a debt-to-equity ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.02. The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.07 billion. GE HealthCare Technologies had a return on equity of 22.52% and a net margin of 10.94%.The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 earnings per share. On average, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

GEHC has been the subject of a number of analyst reports. Evercore ISI reiterated an “outperform” rating and set a $95.00 target price on shares of GE HealthCare Technologies in a research note on Monday, January 5th. Wells Fargo & Company lowered their price objective on GE HealthCare Technologies from $89.00 to $87.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Jefferies Financial Group raised their target price on GE HealthCare Technologies from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Barclays began coverage on GE HealthCare Technologies in a research note on Monday, October 13th. They set an “equal weight” rating and a $86.00 target price for the company. Finally, Morgan Stanley increased their price target on shares of GE HealthCare Technologies from $74.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $89.83.

GE HealthCare Technologies 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.