Mitsubishi UFJ Trust & Banking Corp Boosts Holdings in GE HealthCare Technologies Inc. $GEHC

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,967 shares of the company’s stock after acquiring an additional 15,979 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of GE HealthCare Technologies worth $17,346,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GEHC. True North Advisors LLC raised its position in shares of GE HealthCare Technologies by 2.0% during the 3rd quarter. True North Advisors LLC now owns 6,987 shares of the company’s stock worth $525,000 after purchasing an additional 139 shares during the last quarter. Klingman & Associates LLC increased its position in GE HealthCare Technologies by 4.0% during the third quarter. Klingman & Associates LLC now owns 3,634 shares of the company’s stock worth $273,000 after buying an additional 139 shares in the last quarter. Chicago Capital LLC raised its holdings in shares of GE HealthCare Technologies by 2.2% in the second quarter. Chicago Capital LLC now owns 6,551 shares of the company’s stock worth $485,000 after acquiring an additional 141 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in shares of GE HealthCare Technologies by 4.2% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 3,557 shares of the company’s stock valued at $263,000 after acquiring an additional 143 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its position in shares of GE HealthCare Technologies by 7.4% in the second quarter. Golden State Wealth Management LLC now owns 2,138 shares of the company’s stock valued at $158,000 after acquiring an additional 148 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GEHC has been the subject of several analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $98.00 target price on shares of GE HealthCare Technologies in a research note on Friday, January 9th. Citigroup boosted their price objective on shares of GE HealthCare Technologies from $83.00 to $88.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Wells Fargo & Company reduced their price objective on shares of GE HealthCare Technologies from $89.00 to $87.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Barclays started coverage on shares of GE HealthCare Technologies in a research note on Monday, October 13th. They issued an “equal weight” rating and a $86.00 target price for the company. Finally, Morgan Stanley increased their price target on GE HealthCare Technologies from $74.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $89.83.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $80.32 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.95 and a current ratio of 1.18. The firm has a market capitalization of $36.59 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 2.42 and a beta of 1.08. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80. The company has a 50 day moving average price of $82.36 and a 200 day moving average price of $77.29.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.02. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.07 billion. GE HealthCare Technologies had a net margin of 10.94% and a return on equity of 22.52%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 EPS. Sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 9th will be paid a dividend of $0.035 per share. The ex-dividend date is Friday, January 9th. This represents a $0.14 annualized dividend and a yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio is currently 2.89%.

About GE HealthCare Technologies

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.