GE HealthCare Technologies Inc. $GEHC Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon reduced its GE HealthCare stake by 2.7% in the first quarter, though it still held about 2.82 million shares valued at roughly $200.7 million.
• GE HealthCare’s stock was down 4.0%, opening at $63.07, as the company continued to trade well below its 52-week high of $89.77.
• The company reported mixed quarterly results: EPS of $0.99 missed estimates, but revenue of $5.13 billion beat expectations and rose 7.4% year over year. GE HealthCare also announced a quarterly dividend of $0.035 per share.

Bank of New York Mellon Corp trimmed its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,819,912 shares of the company's stock after selling 78,433 shares during the quarter. Bank of New York Mellon Corp owned about 0.62% of GE HealthCare Technologies worth $200,721,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in GEHC. Laurel Wealth Advisors LLC bought a new position in GE HealthCare Technologies during the 4th quarter valued at $26,000. Optima Capital LLC acquired a new position in shares of GE HealthCare Technologies during the 4th quarter valued at $27,000. Godfrey Financial Associates Inc. bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth $27,000. Montag A & Associates Inc. raised its stake in shares of GE HealthCare Technologies by 105.4% in the 4th quarter. Montag A & Associates Inc. now owns 341 shares of the company's stock worth $28,000 after buying an additional 175 shares in the last quarter. Finally, Transamerica Financial Advisors LLC lifted its holdings in shares of GE HealthCare Technologies by 331.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company's stock valued at $28,000 after buying an additional 262 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Frank R. Jimenez acquired 1,750 shares of the company's stock in a transaction on Thursday, April 30th. The shares were purchased at an average price of $60.45 per share, for a total transaction of $105,787.50. Following the purchase, the insider owned 93,932 shares in the company, valued at $5,678,189.40. This represents a 1.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rodney F. Hochman bought 1,618 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $62.03 per share, with a total value of $100,364.54. Following the transaction, the director owned 1,618 shares in the company, valued at approximately $100,364.54. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 21,847 shares of company stock worth $1,361,355 over the last ninety days. 0.36% of the stock is currently owned by corporate insiders.

GE HealthCare Technologies Stock Down 4.0%

GEHC stock opened at $63.07 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.22 and a quick ratio of 0.95. The firm has a market capitalization of $28.69 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.72 and a beta of 0.72. GE HealthCare Technologies Inc. has a 52-week low of $58.75 and a 52-week high of $89.77. The company's 50 day simple moving average is $63.64 and its 200-day simple moving average is $71.96.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.99 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.08). The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.04 billion. GE HealthCare Technologies had a return on equity of 20.46% and a net margin of 9.10%.The company's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 EPS. GE HealthCare Technologies has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.89 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 24th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, July 24th. GE HealthCare Technologies's payout ratio is 3.35%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GEHC shares. UBS Group decreased their target price on GE HealthCare Technologies from $69.00 to $67.00 and set a "neutral" rating for the company in a research note on Thursday. Mizuho dropped their price target on shares of GE HealthCare Technologies from $90.00 to $80.00 in a research report on Thursday, April 30th. Citigroup reissued a "neutral" rating on shares of GE HealthCare Technologies in a report on Wednesday, July 8th. BNP Paribas Exane reduced their price objective on shares of GE HealthCare Technologies from $95.00 to $88.00 in a research report on Friday, May 1st. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $85.00 price objective on shares of GE HealthCare Technologies in a research note on Thursday, April 30th. Ten research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $76.41.

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.

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