NBT Bank N A NY Sells 449 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

NBT Bank N A NY reduced its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,922 shares of the company’s stock after selling 449 shares during the period. NBT Bank N A NY’s holdings in GE HealthCare Technologies were worth $478,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GEHC. Chicago Capital LLC lifted its stake in shares of GE HealthCare Technologies by 4.8% in the first quarter. Chicago Capital LLC now owns 6,410 shares of the company’s stock valued at $517,000 after buying an additional 294 shares in the last quarter. WD Rutherford LLC lifted its position in GE HealthCare Technologies by 6.6% in the 1st quarter. WD Rutherford LLC now owns 22,257 shares of the company’s stock valued at $1,796,000 after acquiring an additional 1,378 shares in the last quarter. QRG Capital Management Inc. lifted its position in GE HealthCare Technologies by 52.2% in the 1st quarter. QRG Capital Management Inc. now owns 19,997 shares of the company’s stock valued at $1,614,000 after acquiring an additional 6,858 shares in the last quarter. Sentry LLC bought a new position in GE HealthCare Technologies in the 1st quarter valued at about $222,000. Finally, Sagespring Wealth Partners LLC lifted its position in GE HealthCare Technologies by 22.9% in the 1st quarter. Sagespring Wealth Partners LLC now owns 3,349 shares of the company’s stock valued at $270,000 after acquiring an additional 624 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GEHC. BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the company a “buy” rating in a report on Monday, April 14th. Wall Street Zen raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. The Goldman Sachs Group cut their price objective on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Piper Sandler dropped their price target on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, Morgan Stanley dropped their price target on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average price target of $88.27.

GE HealthCare Technologies Trading Up 1.1%

NASDAQ GEHC opened at $71.89 on Thursday. The stock has a market capitalization of $32.92 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 2.40 and a beta of 1.13. 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 Inc. has a one year low of $57.65 and a one year high of $94.80. The business’s fifty day moving average is $69.21 and its 200-day moving average is $78.11.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were issued a $0.035 dividend. The ex-dividend date was Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.19%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 2.95%.

GE HealthCare Technologies announced that its Board of Directors has initiated a stock buyback plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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.