PNC Financial Services Group Inc. Sells 3,534 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

PNC Financial Services Group Inc. lowered its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 212,032 shares of the company’s stock after selling 3,534 shares during the quarter. PNC Financial Services Group Inc.’s holdings in GE HealthCare Technologies were worth $19,899,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. grew its holdings in GE HealthCare Technologies by 39.6% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock valued at $383,000 after buying an additional 1,159 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of GE HealthCare Technologies in the third quarter worth $7,387,000. Bank of Montreal Can increased its position in GE HealthCare Technologies by 27.5% during the second quarter. Bank of Montreal Can now owns 696,446 shares of the company’s stock worth $54,964,000 after acquiring an additional 150,137 shares during the period. Douglas Lane & Associates LLC raised its stake in GE HealthCare Technologies by 2.2% during the 3rd quarter. Douglas Lane & Associates LLC now owns 460,004 shares of the company’s stock valued at $43,171,000 after purchasing an additional 10,099 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in GE HealthCare Technologies by 5,075,130.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 507,523 shares of the company’s stock worth $46,139,000 after purchasing an additional 507,513 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Down 3.0 %

Shares of GEHC opened at $82.32 on Friday. The business’s 50 day simple moving average is $88.44 and its 200-day simple moving average is $83.57. GE HealthCare Technologies Inc. has a one year low of $66.39 and a one year high of $94.55. The company has a market capitalization of $37.61 billion, a P/E ratio of 22.62, a PEG ratio of 2.96 and a beta of 1.24. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.29 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a dividend of $0.03 per share. The ex-dividend date was Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. GE HealthCare Technologies’s payout ratio is 3.30%.

Insider Activity

In other news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GEHC shares. Stifel Nicolaus increased their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Wells Fargo & Company lifted their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. initiated 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. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Wednesday, September 18th. Finally, Evercore ISI increased their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average target price of $94.36.

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.