Sumitomo Mitsui Trust Group Inc. Has $95.95 Million Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.3% in the third quarter, HoldingsChannel reports. The firm owned 1,022,396 shares of the company’s stock after acquiring an additional 23,448 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in GE HealthCare Technologies were worth $95,952,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new stake in GE HealthCare Technologies during the 1st quarter valued at $25,000. LGT Financial Advisors LLC increased its holdings in GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after purchasing an additional 251 shares in the last quarter. Fred Alger Management LLC acquired a new stake in shares of GE HealthCare Technologies in the 2nd quarter valued at $26,000. Capital Performance Advisors LLP acquired a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at $26,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at $26,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their target price for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Wednesday, September 18th. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price for the company. Finally, Stifel Nicolaus lifted their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus price target of $94.36.

GE HealthCare Technologies Stock Performance

GEHC stock opened at $84.18 on Thursday. The business’s 50-day moving average price is $88.85 and its two-hundred day moving average price is $83.48. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The firm has a market cap of $38.46 billion, a PE ratio of 23.13, a P/E/G ratio of 3.05 and a beta of 1.24. GE HealthCare Technologies Inc. has a 1-year low of $66.39 and a 1-year high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 earnings per share. As a group, research analysts forecast that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a $0.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.30%.

Insider Activity

In related news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now owns 24,298 shares in the company, valued at approximately $2,101,291.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

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.