SVB Wealth LLC Cuts Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

SVB Wealth LLC reduced its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.1% during the first quarter, HoldingsChannel.com reports. The fund owned 5,876 shares of the company’s stock after selling 250 shares during the quarter. SVB Wealth LLC’s holdings in GE HealthCare Technologies were worth $534,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Wynn Capital LLC grew its position in shares of GE HealthCare Technologies by 4.1% during the first quarter. Wynn Capital LLC now owns 3,125 shares of the company’s stock valued at $284,000 after purchasing an additional 122 shares in the last quarter. Byrne Asset Management LLC boosted its stake in GE HealthCare Technologies by 0.8% during the first quarter. Byrne Asset Management LLC now owns 16,424 shares of the company’s stock valued at $1,493,000 after buying an additional 126 shares during the last quarter. WASHINGTON TRUST Co grew its holdings in GE HealthCare Technologies by 7.7% during the 1st quarter. WASHINGTON TRUST Co now owns 1,853 shares of the company’s stock valued at $168,000 after buying an additional 133 shares in the last quarter. Fiduciary Trust Co raised its holdings in shares of GE HealthCare Technologies by 1.8% during the 4th quarter. Fiduciary Trust Co now owns 7,696 shares of the company’s stock worth $595,000 after acquiring an additional 133 shares in the last quarter. Finally, Quent Capital LLC boosted its position in shares of GE HealthCare Technologies by 21.3% during the 1st quarter. Quent Capital LLC now owns 780 shares of the company’s stock valued at $71,000 after acquiring an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded up $1.38 during trading hours on Tuesday, reaching $83.43. 664,548 shares of the company traded hands, compared to its average volume of 3,070,712. The stock has a market capitalization of $38.08 billion, a P/E ratio of 24.29, a P/E/G ratio of 2.90 and a beta of 1.20. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. The business has a fifty day moving average price of $78.66 and a 200-day moving average price of $82.26. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50.

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

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.51%.

Insider Transactions at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Jan Makela sold 66,955 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $81.54, for a total value of $5,459,510.70. Following the sale, the chief executive officer now directly owns 63,348 shares of the company’s stock, valued at $5,165,395.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the transaction, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jan Makela sold 66,955 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the sale, the chief executive officer now directly owns 63,348 shares in the company, valued at $5,165,395.92. The disclosure for this sale can be found here. Insiders have sold 90,482 shares of company stock worth $7,369,137 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GEHC shares. Bank of America decreased their price target on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Evercore ISI boosted their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Argus raised their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Citigroup boosted their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group assumed coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They set a “neutral” rating and a $87.00 target price for the company. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average price target of $94.09.

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.