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

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

A number of other hedge funds also recently made changes to their positions in the stock. LGT Financial Advisors LLC increased its holdings in shares of GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after buying an additional 251 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in GE HealthCare Technologies during the third quarter worth about $26,000. Capital Performance Advisors LLP purchased a new position in shares of GE HealthCare Technologies in the 3rd quarter worth about $26,000. Darwin Wealth Management LLC acquired a new position in shares of GE HealthCare Technologies in the 3rd quarter valued at about $31,000. Finally, Continuum Advisory LLC increased its position in GE HealthCare Technologies by 101.8% during the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock worth $31,000 after purchasing an additional 168 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the sale, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by company insiders.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $88.16 on Friday. The company has a market cap of $40.28 billion, a PE ratio of 24.22, a P/E/G ratio of 2.88 and a beta of 1.11. GE HealthCare Technologies Inc. has a fifty-two week low of $71.31 and a fifty-two week high of $94.55. The firm has a 50-day simple moving average of $82.18 and a 200 day simple moving average of $84.60. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12.

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

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date is Tuesday, January 14th. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s payout ratio is 3.85%.

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.