Sumitomo Mitsui Trust Holdings Inc. Buys 20,776 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sumitomo Mitsui Trust Holdings Inc. grew its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.1% during the first quarter, Holdings Channel reports. The firm owned 1,025,320 shares of the company’s stock after purchasing an additional 20,776 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in GE HealthCare Technologies were worth $93,212,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of GE HealthCare Technologies by 14.7% in the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after buying an additional 5,693,244 shares during the last quarter. Norges Bank bought a new stake in GE HealthCare Technologies during the fourth quarter worth $229,052,000. Capital Research Global Investors boosted its position in GE HealthCare Technologies by 2.8% in the fourth quarter. Capital Research Global Investors now owns 51,344,719 shares of the company’s stock worth $3,969,975,000 after purchasing an additional 1,401,566 shares during the last quarter. Ameriprise Financial Inc. grew its stake in GE HealthCare Technologies by 84.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock valued at $181,578,000 after purchasing an additional 1,221,436 shares during the period. Finally, Perpetual Ltd purchased a new stake in shares of GE HealthCare Technologies during the 1st quarter valued at $96,135,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In related news, insider Frank R. Jimenez bought 1,315 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now directly owns 75,796 shares in the company, valued at approximately $5,799,909.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO Taha Kass-Hout sold 3,300 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the completion of the transaction, the chief technology officer now directly owns 67,300 shares in the company, valued at approximately $5,296,510. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frank R. Jimenez acquired 1,315 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now directly owns 75,796 shares in the company, valued at approximately $5,799,909.92. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 90,482 shares of company stock worth $7,369,137. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Up 1.2 %

GE HealthCare Technologies stock opened at $77.24 on Friday. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50. The firm has a 50 day simple moving average of $79.13 and a 200 day simple moving average of $81.80. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $35.26 billion, a price-to-earnings ratio of 22.58, a P/E/G ratio of 2.75 and a beta of 1.20.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, meeting analysts’ consensus estimates of $0.90. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.80 billion. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. GE HealthCare Technologies’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business earned $0.85 earnings per share. On average, analysts predict that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Friday, July 19th. GE HealthCare Technologies’s payout ratio is 3.51%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GEHC. Bank of America cut their price target on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group assumed coverage on shares of GE HealthCare Technologies in a research note on Thursday, May 30th. They issued a “neutral” rating and a $87.00 target price on the stock. Citigroup raised their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Mizuho dropped their price objective on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Evercore ISI raised their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average target price of $94.09.

GE HealthCare Technologies Company Profile

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.