Private Trust Co. NA Has $115,000 Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Private Trust Co. NA reduced its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 38.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,426 shares of the company’s stock after selling 879 shares during the period. Private Trust Co. NA’s holdings in GE HealthCare Technologies were worth $115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in GEHC. Assetmark Inc. lifted its holdings in shares of GE HealthCare Technologies by 85.2% during the fourth quarter. Assetmark Inc. now owns 4,996 shares of the company’s stock worth $391,000 after buying an additional 2,299 shares in the last quarter. Atria Investments Inc raised its holdings in GE HealthCare Technologies by 6.9% in the 4th quarter. Atria Investments Inc now owns 12,644 shares of the company’s stock valued at $988,000 after acquiring an additional 811 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in GE HealthCare Technologies in the 4th quarter valued at $7,775,000. Larson Financial Group LLC raised its holdings in GE HealthCare Technologies by 21.2% in the 4th quarter. Larson Financial Group LLC now owns 3,807 shares of the company’s stock valued at $298,000 after acquiring an additional 665 shares in the last quarter. Finally, Amundi raised its stake in GE HealthCare Technologies by 45.9% in the fourth quarter. Amundi now owns 1,726,902 shares of the company’s stock valued at $148,963,000 after purchasing an additional 542,944 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the company a “buy” rating in a research note on Monday, April 14th. Piper Sandler dropped their target price on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, May 31st. The Goldman Sachs Group lowered their price objective on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, Citigroup lowered their price objective on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.27.

GE HealthCare Technologies Trading Up 0.8%

Shares of NASDAQ GEHC opened at $75.20 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.76 and a current ratio of 0.98. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The firm has a 50 day moving average price of $71.99 and a two-hundred day moving average price of $77.42. The stock has a market cap of $34.43 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 2.51 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.66 billion. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. GE HealthCare Technologies’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.19%. GE HealthCare Technologies’s payout ratio is 2.95%.

GE HealthCare Technologies announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

GE HealthCare Technologies Company 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.