Webster Bank N. A. Lowers Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Webster Bank N. A. lowered its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 50.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 404 shares of the company’s stock after selling 416 shares during the period. Webster Bank N. A.’s holdings in GE HealthCare Technologies were worth $37,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at about $29,000. Turtle Creek Wealth Advisors LLC bought a new position in GE HealthCare Technologies during the fourth quarter valued at about $30,000. Sachetta LLC bought a new position in GE HealthCare Technologies during the fourth quarter valued at about $31,000. Rise Advisors LLC grew its position in GE HealthCare Technologies by 241.4% during the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after buying an additional 239 shares during the period. Finally, Riverview Trust Co bought a new position in GE HealthCare Technologies during the first quarter valued at about $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

GEHC has been the subject of several research reports. Evercore ISI increased their price target 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. Citigroup increased their target price on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Argus increased 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. Mizuho cut their target price on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Bank of America cut their target price on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.09.

Insiders Place Their Bets

In other GE HealthCare Technologies 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 transaction, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at $5,296,510. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Frank R. Jimenez bought 1,315 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the acquisition, the insider now owns 75,796 shares of the company’s stock, valued at $5,799,909.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction 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 sale, the chief technology officer now owns 67,300 shares in the company, valued at approximately $5,296,510. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,482 shares of company stock valued at $7,369,137. 0.27% of the stock is currently owned by corporate insiders.

GE HealthCare Technologies Price Performance

GEHC traded down $0.90 on Friday, reaching $77.92. The company had a trading volume of 9,422,475 shares, compared to its average volume of 2,701,271. The business has a 50 day simple moving average of $79.85 and a 200 day simple moving average of $81.73. The company has a market cap of $35.57 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 2.83 and a beta of 1.22. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50.

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

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

GE HealthCare Technologies 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.