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M&T Bank Corp Sells 4,539 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

GE HealthCare Technologies logo with Medical background

M&T Bank Corp lessened its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 13.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,502 shares of the company's stock after selling 4,539 shares during the period. M&T Bank Corp's holdings in GE HealthCare Technologies were worth $2,300,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of GEHC. Proficio Capital Partners LLC bought a new stake in GE HealthCare Technologies during the fourth quarter worth $7,775,000. AlphaQuest LLC acquired a new stake in GE HealthCare Technologies during the 4th quarter worth about $417,000. Independent Advisor Alliance grew its holdings in GE HealthCare Technologies by 5.5% during the 4th quarter. Independent Advisor Alliance now owns 7,886 shares of the company's stock worth $617,000 after acquiring an additional 414 shares during the period. Wealthfront Advisers LLC grew its holdings in GE HealthCare Technologies by 19.0% during the 4th quarter. Wealthfront Advisers LLC now owns 27,180 shares of the company's stock worth $2,125,000 after acquiring an additional 4,348 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in GE HealthCare Technologies by 8.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 14,340 shares of the company's stock worth $1,121,000 after acquiring an additional 1,123 shares during the period. Institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GEHC. Morgan Stanley decreased their price objective on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Evercore ISI dropped their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Piper Sandler dropped their price objective on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group dropped 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 report on Thursday, May 1st. Finally, UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $88.55.

Check Out Our Latest Research Report on GEHC

GE HealthCare Technologies Trading Down 0.1%

Shares of NASDAQ GEHC traded down $0.06 during midday trading on Tuesday, hitting $74.39. 4,391,532 shares of the company traded hands, compared to its average volume of 3,533,462. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.76 and a current ratio of 0.98. The stock has a 50-day moving average price of $72.36 and a 200 day moving average price of $77.33. The firm has a market cap of $34.06 billion, a P/E ratio of 15.66, a P/E/G ratio of 2.53 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. The company had revenue of $4.78 billion for the quarter, compared to analysts' expectations of $4.66 billion. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. GE HealthCare Technologies's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 earnings per share. As a group, analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently announced 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 dividend payout ratio is presently 2.95%.

GE HealthCare Technologies declared that its Board of Directors has authorized a share buyback plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

GE HealthCare Technologies Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)

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