GE HealthCare Technologies Inc. $GEHC Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,113,000 shares of the company’s stock after selling 51,943 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of GE HealthCare Technologies worth $72,757,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in GE HealthCare Technologies by 1.6% during the 2nd quarter. State Street Corp now owns 20,861,566 shares of the company’s stock valued at $1,335,349,000 after purchasing an additional 323,090 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in GE HealthCare Technologies by 13.2% during 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of GE HealthCare Technologies by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,399,439 shares of the company’s stock valued at $384,219,000 after purchasing an additional 105,995 shares in the last quarter. Van ECK Associates Corp raised its position in shares of GE HealthCare Technologies by 4.1% during the second quarter. Van ECK Associates Corp now owns 4,482,631 shares of the company’s stock worth $286,933,000 after purchasing an additional 177,028 shares during the period. Finally, Trian Fund Management L.P. raised its holdings in shares of GE HealthCare Technologies by 76,194.4% during the second quarter. Trian Fund Management L.P. now owns 3,085,344 shares of the company’s stock valued at $197,493,000 after acquiring an additional 3,081,300 shares during the period. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Price Performance

GEHC opened at $80.66 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.30 and a quick ratio of 1.01. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77. The stock has a market capitalization of $36.47 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 2.00 and a beta of 0.65. The company’s 50 day simple moving average is $68.68 and its 200-day simple moving average is $70.01.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $1.34 EPS for the quarter, topping 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 firm had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the company earned $1.07 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. Sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 5.02 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd will be given a $0.04 dividend. The ex-dividend date is Friday, October 23rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. GE HealthCare Technologies’s dividend payout ratio is 3.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of GE HealthCare Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. Bank of America reiterated a “neutral” rating on shares of GE HealthCare Technologies in a research note on Thursday, October 29th. BTIG Research raised their price target on shares of GE HealthCare Technologies from $75.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, October 28th. Barclays upped their target price on shares of GE HealthCare Technologies from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Finally, Wolfe Research initiated coverage on shares of GE HealthCare Technologies in a research report on Tuesday, October 20th. They set a “peer perform” rating for the company. Twelve investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average price target of $80.87.

About GE HealthCare Technologies

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.