Washington Trust Advisors Inc. Sells 306 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Washington Trust Advisors Inc. lowered its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 9.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,013 shares of the company’s stock after selling 306 shares during the quarter. Washington Trust Advisors Inc.’s holdings in GE HealthCare Technologies were worth $233,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of GEHC. BlackRock Inc. bought a new position in shares of GE HealthCare Technologies during the 2nd quarter valued at approximately $2,334,660,000. State Street Corp purchased a new stake in shares of GE HealthCare Technologies during the 2nd quarter worth $1,532,290,000. Vanguard Group Inc. lifted its stake in shares of GE HealthCare Technologies by 14.7% during the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after purchasing an additional 5,693,244 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of GE HealthCare Technologies during the 2nd quarter worth $112,365,000. Finally, Trian Fund Management L.P. purchased a new stake in shares of GE HealthCare Technologies during the 2nd quarter worth $109,092,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock traded up $0.37 during trading hours on Thursday, hitting $90.68. The company had a trading volume of 672,161 shares, compared to its average volume of 3,593,984. The firm has a market cap of $41.29 billion, a PE ratio of 29.85, a PEG ratio of 3.10 and a beta of 0.97. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a one year low of $62.35 and a one year high of $94.50. The firm has a 50-day moving average of $84.70 and a 200 day moving average of $75.39.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the prior year, the business posted $1.31 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. GE HealthCare Technologies’s payout ratio is presently 3.97%.

Wall Street Analyst Weigh In

A number of research analysts have commented on GEHC shares. HSBC started coverage on GE HealthCare Technologies in a research note on Thursday, February 15th. They set a “buy” rating and a $100.00 price target on the stock. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and increased their price objective for the company from $66.00 to $88.00 in a research note on Monday, February 12th. Morgan Stanley raised their price target on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Jefferies Financial Group assumed coverage on GE HealthCare Technologies in a research note on Thursday, November 30th. They set a “hold” rating and a $80.00 price target for the company. Finally, Mizuho increased their price objective on GE HealthCare Technologies from $94.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average target price of $88.73.

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.