First Citizens Bank & Trust Co. Sells 10,771 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• First Citizens Bank & Trust Co. reduced its stake in GE HealthCare Technologies by 28.0%, selling 10,771 shares in the second quarter, leaving it with a total of 27,752 shares valued at approximately $2.056 million.
• Analysts exhibit a mixed outlook for GE HealthCare, with target prices ranging from $74.00 to $89.00, and a consensus rating of Moderate Buy.
• GE HealthCare Technologies declared a quarterly dividend of $0.035 per share, which will be paid on November 14th, reflecting an annualized yield of 0.2%.

First Citizens Bank & Trust Co. lowered its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 28.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,752 shares of the company's stock after selling 10,771 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in GE HealthCare Technologies were worth $2,056,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. N.E.W. Advisory Services LLC bought a new stake in GE HealthCare Technologies during the 1st quarter valued at approximately $25,000. Bogart Wealth LLC raised its stake in GE HealthCare Technologies by 260.0% during the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after purchasing an additional 247 shares during the period. Stonebridge Financial Group LLC raised its stake in GE HealthCare Technologies by 165.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares during the period. Olde Wealth Management LLC bought a new stake in GE HealthCare Technologies during the 1st quarter valued at approximately $35,000. Finally, Gladwyn Financial Advisors Inc. bought a new stake in GE HealthCare Technologies during the 2nd quarter valued at approximately $34,000. Institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley set a $74.00 target price on GE HealthCare Technologies in a research note on Thursday, September 18th. BTIG Research lifted their target price on GE HealthCare Technologies from $87.00 to $89.00 and gave the company a "buy" rating in a research note on Monday, October 13th. Barclays assumed coverage on GE HealthCare Technologies in a research note on Monday, October 13th. They set an "equal weight" rating and a $86.00 target price on the stock. Zacks Research cut GE HealthCare Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, September 29th. Finally, Citigroup cut GE HealthCare Technologies from a "buy" rating to a "neutral" rating and cut their price target for the company from $93.00 to $83.00 in a report on Tuesday, October 7th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $85.20.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $77.26 on Friday. The stock has a market capitalization of $35.27 billion, a PE ratio of 15.83, a P/E/G ratio of 2.91 and a beta of 1.13. The business has a 50 day simple moving average of $74.68 and a two-hundred day simple moving average of $72.30. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.15. The business had revenue of $5 billion during the quarter, compared to analysts' expectations of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. On average, research analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be issued a $0.035 dividend. The ex-dividend date is Friday, October 24th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies's payout ratio is 2.87%.

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.

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