M&T Bank Corp Sells 4,289 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

M&T Bank Corp decreased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,041 shares of the company's stock after selling 4,289 shares during the quarter. M&T Bank Corp's holdings in GE HealthCare Technologies were worth $2,583,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. D1 Capital Partners L.P. bought a new stake in GE HealthCare Technologies in the 3rd quarter worth about $268,159,000. Van ECK Associates Corp grew its holdings in shares of 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 valued at $378,520,000 after acquiring an additional 2,506,417 shares in the last quarter. State Street Corp increased its position in shares of GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company's stock valued at $1,747,101,000 after acquiring an additional 1,347,114 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in GE HealthCare Technologies during the third quarter worth $93,713,000. Finally, Jennison Associates LLC boosted its position in GE HealthCare Technologies by 124.5% in the fourth quarter. Jennison Associates LLC now owns 1,709,635 shares of the company's stock worth $133,659,000 after purchasing an additional 948,017 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

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Analyst Upgrades and Downgrades

GEHC has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating and raised their price objective for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, Citigroup lifted their price objective on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $97.67.

GE HealthCare Technologies Stock Performance

GEHC traded up $1.17 on Friday, hitting $86.58. The company's stock had a trading volume of 4,075,712 shares, compared to its average volume of 2,984,066. The company's 50 day simple moving average is $86.77 and its 200-day simple moving average is $86.15. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a 12 month low of $74.51 and a 12 month high of $94.80. The firm has a market cap of $39.59 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly 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. The company had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. Analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

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.