Synovus Financial Corp Has $852,000 Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Synovus Financial Corp reduced its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,081 shares of the company’s stock after selling 814 shares during the quarter. Synovus Financial Corp’s holdings in GE HealthCare Technologies were worth $852,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GEHC. State Street Corp grew its holdings in shares of GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after buying an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC boosted its position in GE HealthCare Technologies by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after acquiring an additional 733,819 shares during the last quarter. D1 Capital Partners L.P. bought a new position in shares of GE HealthCare Technologies during the 3rd quarter worth approximately $268,159,000. Charles Schwab Investment Management Inc. raised its holdings in shares of GE HealthCare Technologies by 12.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock valued at $254,422,000 after purchasing an additional 290,019 shares during the last quarter. Finally, Van ECK Associates Corp bought a new stake in shares of GE HealthCare Technologies in the third quarter worth $208,513,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the sale, the chief executive officer now owns 24,298 shares in the company, valued at $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GEHC shares. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, September 18th. Stifel Nicolaus upped their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Wells Fargo & Company raised their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Evercore ISI upped their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.46.

GE HealthCare Technologies Trading Down 1.0 %

GEHC stock opened at $80.29 on Tuesday. GE HealthCare Technologies Inc. has a one year low of $71.31 and a one year high of $94.55. The stock has a market cap of $36.68 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 2.96 and a beta of 1.07. The company has a fifty day moving average price of $85.64 and a two-hundred day moving average price of $83.79. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.06 by $0.08. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. GE HealthCare Technologies’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS. Equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.85%.

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.