Bank of New York Mellon Corp Grows Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Bank of New York Mellon Corp grew its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,476,586 shares of the company’s stock after acquiring an additional 349,539 shares during the quarter. Bank of New York Mellon Corp owned about 0.76% of GE HealthCare Technologies worth $271,800,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. State Street Corp lifted its holdings in GE HealthCare Technologies by 7.8% in the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after purchasing an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC raised its position in shares of GE HealthCare Technologies by 7.2% in the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock valued at $1,026,898,000 after buying an additional 733,819 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of GE HealthCare Technologies by 107.3% during the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock valued at $378,520,000 after buying an additional 2,506,417 shares during the period. D1 Capital Partners L.P. acquired a new position in GE HealthCare Technologies in the 3rd quarter valued at $268,159,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of GE HealthCare Technologies by 12.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after purchasing an additional 290,019 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GEHC. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Citigroup upped their price target on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company boosted their price objective on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.67.

GE HealthCare Technologies Stock Down 0.2 %

Shares of GE HealthCare Technologies stock opened at $90.67 on Thursday. GE HealthCare Technologies Inc. has a twelve month low of $74.51 and a twelve month high of $94.80. The stock has a market cap of $41.46 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 3.19 and a beta of 1.15. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average price of $85.76 and a 200 day moving average price of $86.05.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.19. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies 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.