Bank of New York Mellon Corp Sells 78,433 Shares of GE HealthCare Technologies Inc. $GEHC

Bank of New York Mellon Corp lowered its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,819,912 shares of the company’s stock after selling 78,433 shares during the period. Bank of New York Mellon Corp’s holdings in GE HealthCare Technologies were worth $200,721,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEHC. Empowered Funds LLC raised its holdings in shares of GE HealthCare Technologies by 6.1% during the 1st quarter. Empowered Funds LLC now owns 28,848 shares of the company’s stock valued at $2,328,000 after purchasing an additional 1,665 shares in the last quarter. Acadian Asset Management LLC bought a new stake in GE HealthCare Technologies in the first quarter worth $259,000. Cresset Asset Management LLC boosted its holdings in GE HealthCare Technologies by 12.5% in the second quarter. Cresset Asset Management LLC now owns 7,802 shares of the company’s stock worth $578,000 after purchasing an additional 865 shares in the last quarter. Jump Financial LLC increased its position in GE HealthCare Technologies by 317.6% during the second quarter. Jump Financial LLC now owns 28,132 shares of the company’s stock worth $2,084,000 after buying an additional 21,396 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in GE HealthCare Technologies by 8.6% during the second quarter. Gamco Investors INC. ET AL now owns 4,041 shares of the company’s stock worth $299,000 after buying an additional 320 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Activity at GE HealthCare Technologies

In related news, Director Kevin Lobo acquired 10,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $64.18 per share, for a total transaction of $641,800.00. Following the completion of the purchase, the director owned 14,363 shares in the company, valued at approximately $921,817.34. The trade was a 229.20% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Frank R. Jimenez bought 1,750 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average cost of $60.45 per share, for a total transaction of $105,787.50. Following the transaction, the insider directly owned 93,932 shares of the company’s stock, valued at $5,678,189.40. This trade represents a 1.90% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 21,847 shares of company stock valued at $1,361,355. 0.36% of the stock is owned by corporate insiders.

GE HealthCare Technologies Trading Down 4.0%

Shares of NASDAQ:GEHC opened at $63.07 on Friday. The company has a market cap of $28.69 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.72 and a beta of 0.72. The stock’s 50-day moving average is $63.64 and its 200-day moving average is $71.96. GE HealthCare Technologies Inc. has a 52-week low of $58.75 and a 52-week high of $89.77. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 1.22.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.08). GE HealthCare Technologies had a return on equity of 20.46% and a net margin of 9.10%.The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same period in the prior year, the firm posted $1.01 EPS. GE HealthCare Technologies’s revenue for the quarter was up 7.4% on a year-over-year basis. GE HealthCare Technologies has set its FY 2026 guidance at 4.800-5.000 EPS. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.89 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 24th 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, July 24th. GE HealthCare Technologies’s payout ratio is currently 3.35%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GEHC shares. Stifel Nicolaus set a $80.00 target price on GE HealthCare Technologies in a report on Wednesday, April 29th. Evercore set a $80.00 price objective on GE HealthCare Technologies in a report on Thursday, April 30th. Piper Sandler cut their price objective on GE HealthCare Technologies from $88.00 to $74.00 in a research note on Thursday, April 30th. Royal Bank Of Canada initiated coverage on GE HealthCare Technologies in a report on Tuesday, June 23rd. They issued an “outperform” rating and a $80.00 target price for the company. Finally, HSBC decreased their target price on GE HealthCare Technologies from $100.00 to $90.00 in a research report on Thursday, April 30th. Ten equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $76.41.

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.