Sumitomo Mitsui Trust Group Inc. Sells 51,943 Shares of GE HealthCare Technologies Inc. $GEHC

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,113,000 shares of the company’s stock after selling 51,943 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in GE HealthCare Technologies were worth $72,757,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trian Fund Management L.P. increased its stake in GE HealthCare Technologies by 76,194.4% during the 2nd quarter. Trian Fund Management L.P. now owns 3,085,344 shares of the company’s stock worth $197,493,000 after purchasing an additional 3,081,300 shares in the last quarter. Mizuho Markets Cayman LP boosted its holdings in shares of GE HealthCare Technologies by 173.2% in the first quarter. Mizuho Markets Cayman LP now owns 3,068,500 shares of the company’s stock valued at $218,416,000 after buying an additional 1,945,500 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of GE HealthCare Technologies by 13.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock valued at $861,307,000 after buying an additional 1,571,226 shares during the period. Amundi boosted its holdings in shares of GE HealthCare Technologies by 129.9% in the second quarter. Amundi now owns 2,500,094 shares of the company’s stock valued at $160,031,000 after buying an additional 1,412,453 shares during the period. Finally, Perpetual Ltd increased its holdings in GE HealthCare Technologies by 107.4% during the 3rd quarter. Perpetual Ltd now owns 2,712,232 shares of the company’s stock worth $177,299,000 after purchasing an additional 1,404,683 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Piper Sandler restated a “buy” rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Zacks Research upgraded shares of GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Hovde Group assumed coverage on shares of GE HealthCare Technologies in a research report on Friday, July 17th. They set a “market perform” rating and a $14.00 price target on the stock. Wolfe Research assumed coverage on shares of GE HealthCare Technologies in a research note on Tuesday, October 20th. They set a “peer perform” rating for the company. Finally, Wall Street Zen upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating in a report on Saturday. Twelve analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.87.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $80.66 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.86. GE HealthCare Technologies Inc. has a 12 month low of $58.75 and a 12 month high of $89.77. The stock has a 50 day moving average of $68.68 and a 200-day moving average of $70.01. The company has a market capitalization of $36.47 billion, a P/E ratio of 17.02, a P/E/G ratio of 2.00 and a beta of 0.65.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. GE HealthCare Technologies had a return on equity of 20.45% and a net margin of 9.96%. The business had revenue of $5.51 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the prior year, the business earned $1.07 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities research analysts predict that GE HealthCare Technologies Inc. will post 5.02 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 23rd will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.2%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. The ex-dividend date is Friday, October 23rd. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.38%.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology company that develops and provides products, services and digital solutions for healthcare providers. Its offerings are designed to support the diagnosis, treatment and monitoring of patients across hospitals, outpatient facilities, imaging centers and other care settings.

The company’s portfolio includes medical imaging systems such as computed tomography, magnetic resonance imaging, molecular imaging, surgical imaging and X-ray equipment.