GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Synovus Financial Corp

Synovus Financial Corp reduced its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 47.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,796 shares of the company’s stock after selling 4,285 shares during the period. Synovus Financial Corp’s holdings in GE HealthCare Technologies were worth $375,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $25,000. Runnymede Capital Advisors Inc. bought a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at about $28,000. Bank of Jackson Hole Trust acquired a new stake in GE HealthCare Technologies during the fourth quarter worth about $32,000. OFI Invest Asset Management acquired a new stake in GE HealthCare Technologies during the fourth quarter worth about $34,000. Finally, Flagship Wealth Advisors LLC bought a new position in GE HealthCare Technologies in the fourth quarter worth about $34,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GEHC shares. The Goldman Sachs Group upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $100.00 in a research report on Tuesday, March 11th. BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the stock a “buy” rating in a research report on Monday. Citigroup raised their target price on GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, Wells Fargo & Company boosted their target price on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.27.

GE HealthCare Technologies Stock Performance

GEHC opened at $62.37 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 market capitalization of $28.56 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. The business has a 50 day moving average price of $79.76 and a two-hundred day moving average price of $83.29. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.33 billion. Research analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.22%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio is presently 3.23%.

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.