Comerica Bank Cuts Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Comerica Bank lessened its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,850 shares of the company’s stock after selling 5,194 shares during the period. Comerica Bank’s holdings in GE HealthCare Technologies were worth $9,623,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in GE HealthCare Technologies by 49.4% in the 4th quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock worth $93,467,000 after acquiring an additional 399,961 shares during the last quarter. South Dakota Investment Council raised its position in shares of GE HealthCare Technologies by 272.1% in the fourth quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock valued at $7,598,000 after purchasing an additional 71,857 shares during the period. US Bancorp DE lifted its stake in shares of GE HealthCare Technologies by 83.4% during the 4th quarter. US Bancorp DE now owns 146,524 shares of the company’s stock valued at $11,329,000 after buying an additional 66,638 shares in the last quarter. Cerity Partners LLC boosted its holdings in GE HealthCare Technologies by 27.2% in the 4th quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock worth $3,551,000 after buying an additional 9,809 shares during the period. Finally, John G Ullman & Associates Inc. grew its stake in GE HealthCare Technologies by 93.1% in the 4th quarter. John G Ullman & Associates Inc. now owns 57,916 shares of the company’s stock valued at $4,478,000 after buying an additional 27,931 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Down 2.6 %

Shares of GEHC traded down $2.18 on Friday, reaching $81.22. The stock had a trading volume of 775,961 shares, compared to its average volume of 3,123,234. The firm has a market capitalization of $37.07 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 3.04 and a beta of 1.17. The company has a 50-day simple moving average of $78.84 and a 200-day simple moving average of $82.33. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06.

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 the consensus estimate of $0.98 by $0.02. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.76%. GE HealthCare Technologies’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the business earned $0.92 EPS. Sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.27 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Insider Transactions at GE HealthCare Technologies

In other news, CTO Taha Kass-Hout sold 3,300 shares of the business’s stock in a transaction on 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 owns 67,300 shares in the company, valued at $5,296,510. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jan Makela sold 66,955 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the transaction, the chief executive officer now directly owns 63,348 shares of the company’s stock, valued at approximately $5,165,395.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction on 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 sale, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,482 shares of company stock worth $7,369,137. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GEHC shares. The Goldman Sachs Group began coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target for the company. Evercore ISI upped their price target on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Mizuho cut their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Bank of America decreased their target price 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. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.