Bank of New York Mellon Corp Purchases 349,539 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Bank of New York Mellon Corp raised its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,476,586 shares of the company's stock after purchasing an additional 349,539 shares during the period. Bank of New York Mellon Corp owned 0.76% of GE HealthCare Technologies worth $271,800,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. D1 Capital Partners L.P. purchased a new position in shares of GE HealthCare Technologies during the 3rd quarter valued at about $268,159,000. Van ECK Associates Corp increased its position in shares of GE HealthCare Technologies by 107.3% in the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company's stock valued at $378,520,000 after acquiring an additional 2,506,417 shares during the period. State Street Corp raised its stake in shares of GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company's stock valued at $1,747,101,000 after acquiring an additional 1,347,114 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of GE HealthCare Technologies during the third quarter worth about $93,713,000. Finally, Jennison Associates LLC grew its stake in shares of GE HealthCare Technologies by 124.5% in the fourth quarter. Jennison Associates LLC now owns 1,709,635 shares of the company's stock worth $133,659,000 after purchasing an additional 948,017 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Remove Ads

Analysts Set New Price Targets

GEHC has been the topic of several research analyst reports. Citigroup boosted their target price on GE HealthCare Technologies from $103.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Wells Fargo & Company increased their price objective on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating and boosted their target price for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $97.67.

GE HealthCare Technologies Stock Down 2.3 %

NASDAQ GEHC traded down $2.05 on Friday, hitting $87.35. 4,214,406 shares of the stock were exchanged, compared to its average volume of 2,887,457. GE HealthCare Technologies Inc. has a fifty-two week low of $74.51 and a fifty-two week high of $94.80. The company has a 50-day moving average price of $86.17 and a 200-day moving average price of $86.12. The company has a market cap of $39.94 billion, a PE ratio of 20.17, a PEG ratio of 3.19 and a beta of 1.15. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.33 billion. Sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

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.