GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 10.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 39,088 shares of the company’s stock after selling 4,538 shares during the quarter. M&T Bank Corp’s holdings in GE HealthCare Technologies were worth $3,022,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GEHC. Merit Financial Group LLC increased its holdings in shares of GE HealthCare Technologies by 11.0% in the 4th quarter. Merit Financial Group LLC now owns 7,262 shares of the company’s stock valued at $561,000 after acquiring an additional 719 shares during the last quarter. 9258 Wealth Management LLC raised its holdings in GE HealthCare Technologies by 5.7% during the fourth quarter. 9258 Wealth Management LLC now owns 3,273 shares of the company’s stock worth $253,000 after purchasing an additional 176 shares in the last quarter. Amalgamated Bank lifted its position in shares of GE HealthCare Technologies by 2.1% during the 4th quarter. Amalgamated Bank now owns 103,958 shares of the company’s stock worth $8,038,000 after buying an additional 2,111 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in shares of GE HealthCare Technologies by 91.6% in the 4th quarter. Natixis Advisors L.P. now owns 188,876 shares of the company’s stock valued at $14,603,000 after buying an additional 90,296 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of GE HealthCare Technologies by 62.8% in the 4th quarter. First Horizon Advisors Inc. now owns 5,432 shares of the company’s stock valued at $420,000 after buying an additional 2,096 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. HSBC started coverage on shares of GE HealthCare Technologies in a research report on Thursday, February 15th. They set a “buy” rating and a $100.00 price objective on the stock. Evercore ISI boosted their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Morgan Stanley boosted their price objective on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Citigroup increased their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Mizuho lowered their price objective on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.00.

GE HealthCare Technologies Trading Up 2.0 %

Shares of GEHC stock opened at $81.43 on Wednesday. The stock has a market cap of $37.17 billion, a P/E ratio of 23.81, a P/E/G ratio of 2.86 and a beta of 1.26. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.50. The business has a fifty day simple moving average of $87.81 and a 200-day simple moving average of $79.30.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the previous year, the business posted $0.85 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, analysts forecast that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Insider Activity at GE HealthCare Technologies

In related news, insider Frank R. Jimenez acquired 1,315 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was bought at an average price of $76.52 per share, with a total value of $100,623.80. Following the purchase, the insider now directly owns 75,796 shares in the company, valued at approximately $5,799,909.92. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

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.