Sumitomo Mitsui DS Asset Management Company Ltd Cuts Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 43,857 shares of the company’s stock after selling 2,625 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in GE HealthCare Technologies were worth $4,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Assets Advisory LLC acquired a new position in shares of GE HealthCare Technologies during the 1st quarter valued at about $4,273,000. Vanguard Group Inc. boosted its position in shares of GE HealthCare Technologies by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after acquiring an additional 4,107,746 shares during the last quarter. Mather Group LLC. acquired a new position in shares of GE HealthCare Technologies during the 1st quarter valued at about $106,000. Bank of Montreal Can boosted its position in shares of GE HealthCare Technologies by 27.5% during the 2nd quarter. Bank of Montreal Can now owns 696,446 shares of the company’s stock valued at $54,964,000 after acquiring an additional 150,137 shares during the last quarter. Finally, Sei Investments Co. lifted its position in GE HealthCare Technologies by 30.6% in the first quarter. Sei Investments Co. now owns 279,336 shares of the company’s stock valued at $25,393,000 after buying an additional 65,476 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GEHC. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Stifel Nicolaus upped their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, September 18th. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, Evercore ISI upped their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $94.23.

Insider Buying and Selling at GE HealthCare Technologies

In other news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the transaction, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is owned by insiders.

GE HealthCare Technologies Stock Up 0.6 %

Shares of NASDAQ:GEHC opened at $91.34 on Friday. The firm’s 50-day moving average is $87.91 and its two-hundred day moving average is $83.39. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. GE HealthCare Technologies Inc. has a 1 year low of $62.35 and a 1 year high of $94.55. The firm has a market capitalization of $41.69 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 3.39 and a beta of 1.18.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The firm’s quarterly revenue was up .5% on a year-over-year basis. Analysts predict that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.13%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

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.