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

PNC Financial Services Group Inc. lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 200,292 shares of the company’s stock after selling 11,740 shares during the quarter. PNC Financial Services Group Inc.’s holdings in GE HealthCare Technologies were worth $15,659,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cherry Creek Investment Advisors Inc. grew its position in shares of GE HealthCare Technologies by 0.3% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock worth $2,920,000 after buying an additional 114 shares during the period. Independence Bank of Kentucky boosted its stake in GE HealthCare Technologies by 6.0% during the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock worth $158,000 after acquiring an additional 114 shares during the last quarter. Tandem Capital Management Corp ADV grew its holdings in GE HealthCare Technologies by 0.4% during the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock valued at $2,205,000 after purchasing an additional 118 shares during the period. Arcus Capital Partners LLC increased its stake in GE HealthCare Technologies by 3.0% in the fourth quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock valued at $322,000 after purchasing an additional 119 shares in the last quarter. Finally, Custom Index Systems LLC raised its holdings in GE HealthCare Technologies by 4.4% in the fourth quarter. Custom Index Systems LLC now owns 2,843 shares of the company’s stock worth $222,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Down 1.4 %

NASDAQ:GEHC opened at $85.36 on Tuesday. The company has a market cap of $39.03 billion, a PE ratio of 19.71, a PEG ratio of 3.19 and a beta of 1.13. The stock has a 50-day simple moving average of $86.91 and a 200 day simple moving average of $86.17. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. GE HealthCare Technologies Inc. has a 52-week low of $74.51 and a 52-week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly 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 analysts’ expectations of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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