PNC Financial Services Group Inc. Decreases Stake in GE HealthCare Technologies Inc. $GEHC

PNC Financial Services Group Inc. cut its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 189,672 shares of the company’s stock after selling 7,851 shares during the quarter. PNC Financial Services Group Inc.’s holdings in GE HealthCare Technologies were worth $14,049,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GEHC. N.E.W. Advisory Services LLC purchased a new position in shares of GE HealthCare Technologies in the first quarter worth about $25,000. Gladwyn Financial Advisors Inc. bought a new position in GE HealthCare Technologies in the 2nd quarter worth approximately $34,000. Game Plan Financial Advisors LLC grew its stake in GE HealthCare Technologies by 295.3% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 502 shares of the company’s stock valued at $37,000 after buying an additional 375 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in GE HealthCare Technologies during the 1st quarter valued at $42,000. Finally, HFM Investment Advisors LLC purchased a new stake in shares of GE HealthCare Technologies during the first quarter worth $60,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Down 1.1%

GEHC stock opened at $73.15 on Friday. The company’s 50 day moving average is $75.15 and its 200 day moving average is $73.72. The stock has a market cap of $33.32 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 2.75 and a beta of 1.13. The company has a current ratio of 1.18, a quick ratio of 0.95 and a debt-to-equity ratio of 0.83. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 29th. The company reported $1.07 earnings per share (EPS) 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 analyst estimates of $5.07 billion. GE HealthCare Technologies had a net margin of 10.94% and a return on equity of 22.52%. GE HealthCare Technologies’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 earnings per share. GE HealthCare Technologies has set its FY 2025 guidance at 4.510-4.630 EPS. Sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 24th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, October 24th. GE HealthCare Technologies’s dividend payout ratio is currently 2.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of GE HealthCare Technologies in a report on Tuesday. Evercore ISI increased their price target on shares of GE HealthCare Technologies from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Wells Fargo & Company reduced their price objective on shares of GE HealthCare Technologies from $89.00 to $87.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Citigroup cut shares of GE HealthCare Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $93.00 to $83.00 in a research note on Tuesday, October 7th. Finally, Zacks Research downgraded shares of GE HealthCare Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $86.10.

About GE HealthCare Technologies

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.