M&T Bank Corp Trims Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

M&T Bank Corp lowered its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 SEC filing.

Other hedge funds also recently bought and sold shares of the company. CoreFirst Bank & Trust purchased a new position in GE HealthCare Technologies during the fourth quarter valued at approximately $25,000. Runnymede Capital Advisors Inc. bought a new stake in GE HealthCare Technologies during the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC grew its stake in GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock worth $29,000 after buying an additional 222 shares in the last quarter. LGT Financial Advisors LLC grew its stake in GE HealthCare Technologies by 46.2% in the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after buying an additional 123 shares in the last quarter. Finally, Accredited Wealth Management LLC purchased a new position in GE HealthCare Technologies in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Piper Sandler lowered their price target 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. Evercore ISI lowered their price target 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. Citigroup upped their price objective on shares of GE HealthCare Technologies from $86.00 to $89.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the stock a "buy" rating in a report on Monday, April 14th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, GE HealthCare Technologies has an average rating of "Moderate Buy" and an average price target of $88.55.

GE HealthCare Technologies Stock Down 1.8%

Shares of GE HealthCare Technologies stock opened at $75.13 on Friday. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year high of $94.80. The company has a 50-day moving average of $72.36 and a 200 day moving average of $77.36. The firm has a market cap of $34.40 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 2.58 and a beta of 1.14. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76.

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

GE HealthCare Technologies announced that its Board of Directors has approved a stock buyback plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.19%. The ex-dividend date is Friday, July 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is 2.95%.

About GE HealthCare Technologies

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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