Synovus Financial Corp Lowers Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Synovus Financial Corp lessened its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 47.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,796 shares of the company's stock after selling 4,285 shares during the quarter. Synovus Financial Corp's holdings in GE HealthCare Technologies were worth $375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in GE HealthCare Technologies by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock worth $4,107,378,000 after acquiring an additional 2,155,429 shares during the period. Geode Capital Management LLC raised its holdings in shares of GE HealthCare Technologies by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company's stock worth $882,777,000 after purchasing an additional 342,819 shares during the period. Invesco Ltd. lifted its stake in GE HealthCare Technologies by 18.4% in the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock valued at $630,751,000 after purchasing an additional 1,252,613 shares during the last quarter. Norges Bank bought a new position in GE HealthCare Technologies during the fourth quarter valued at $488,531,000. Finally, Van ECK Associates Corp increased its position in GE HealthCare Technologies by 107.3% in the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company's stock worth $378,520,000 after buying an additional 2,506,417 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on GEHC. 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 note on Tuesday, March 11th. BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the company a "buy" rating in a research report on Monday, April 14th. Wells Fargo & Company raised their price objective on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Jefferies Financial Group upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating and increased their target price for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. Finally, Citigroup boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $97.27.

GE HealthCare Technologies Price Performance

Shares of GEHC traded up $0.89 during midday trading on Friday, reaching $62.37. The stock had a trading volume of 4,471,392 shares, compared to its average volume of 3,186,567. The company's 50-day moving average is $79.26 and its 200 day moving average is $82.98. 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. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88.

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

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 3.23%.

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.