Wesbanco Bank Inc. Lowers Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Wesbanco Bank Inc. lessened its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,396 shares of the company’s stock after selling 2,631 shares during the quarter. Wesbanco Bank Inc.’s holdings in GE HealthCare Technologies were worth $1,125,000 at the end of the most recent reporting period.

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

Insider Transactions at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Trading Up 1.0 %

Shares of GEHC stock opened at $88.16 on Friday. GE HealthCare Technologies Inc. has a fifty-two week low of $71.31 and a fifty-two week high of $94.55. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The business has a fifty day simple moving average of $82.18 and a 200-day simple moving average of $84.60. The stock has a market cap of $40.28 billion, a P/E ratio of 24.22, a P/E/G ratio of 2.88 and a beta of 1.11.

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

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be given a dividend of $0.035 per share. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 annualized dividend and a yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.85%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GEHC. Evercore ISI upped their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Wells Fargo & Company lifted their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $95.00 to $103.00 in a research report on Wednesday, January 8th. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Finally, Stifel Nicolaus increased their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $96.00.

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.