PNC Financial Services Group Inc. Sells 11,740 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

PNC Financial Services Group Inc. lessened its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,292 shares of the company’s stock after selling 11,740 shares during the period. PNC Financial Services Group Inc.’s holdings in GE HealthCare Technologies were worth $15,659,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEHC. State Street Corp raised its holdings in shares of GE HealthCare Technologies by 7.8% in the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after buying an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC grew its position in 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 acquiring an additional 733,819 shares during the period. Van ECK Associates Corp raised its stake in 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 worth $378,520,000 after acquiring an additional 2,506,417 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of GE HealthCare Technologies by 11.2% during the fourth quarter. Bank of New York Mellon Corp now owns 3,476,586 shares of the company’s stock valued at $271,800,000 after acquiring an additional 349,539 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of GE HealthCare Technologies by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,959,256 shares of the company’s stock valued at $231,355,000 after purchasing an additional 248,318 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Down 1.4 %

Shares of GEHC opened at $85.36 on Tuesday. The firm has a market capitalization of $39.03 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 3.19 and a beta of 1.13. GE HealthCare Technologies Inc. has a 52 week low of $74.51 and a 52 week high of $94.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The business’s fifty day moving average price is $86.91 and its two-hundred day moving average price is $86.17.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results 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. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. On average, analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.