Resona Asset Management Co. Ltd. Sells 7,769 Shares of GE HealthCare Technologies Inc. $GEHC

Resona Asset Management Co. Ltd. decreased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.0% during the third quarter, Holdings Channel.com reports. The fund owned 146,609 shares of the company’s stock after selling 7,769 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in GE HealthCare Technologies were worth $10,962,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Godsey & Gibb Inc. bought a new stake in shares of GE HealthCare Technologies in the third quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of GE HealthCare Technologies by 130.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 346 shares of the company’s stock worth $26,000 after buying an additional 196 shares during the last quarter. Allianz SE increased its stake in shares of GE HealthCare Technologies by 165.2% during the second quarter. Allianz SE now owns 350 shares of the company’s stock valued at $26,000 after buying an additional 218 shares during the period. Gladwyn Financial Advisors Inc. bought a new position in shares of GE HealthCare Technologies during the second quarter valued at approximately $34,000. Finally, Piscataqua Savings Bank lifted its stake in GE HealthCare Technologies by 173.4% in the third quarter. Piscataqua Savings Bank now owns 473 shares of the company’s stock worth $36,000 after acquiring an additional 300 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GEHC shares. Barclays initiated coverage on shares of GE HealthCare Technologies in a research report on Monday, October 13th. They set an “equal weight” rating and a $86.00 price objective on the stock. Morgan Stanley boosted their price target on shares of GE HealthCare Technologies from $74.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Stifel Nicolaus raised their price objective on shares of GE HealthCare Technologies from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of GE HealthCare Technologies in a research report on Monday, December 29th. Finally, Wells Fargo & Company decreased their target price on GE HealthCare Technologies from $89.00 to $87.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Hold” and a consensus price target of $89.83.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $79.77 on Monday. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The firm’s 50-day simple moving average is $81.98 and its two-hundred day simple moving average is $77.23. The stock has a market cap of $36.34 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 2.41 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.95 and a current ratio of 1.18.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results 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 firm had revenue of $5.14 billion during the quarter, compared to analyst estimates 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 revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $1.14 earnings per share. GE HealthCare Technologies has set its FY 2025 guidance at 4.510-4.630 EPS. Analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

GE HealthCare Technologies Profile

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.