OLD Point Trust & Financial Services N A Trims Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

OLD Point Trust & Financial Services N A trimmed its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 27.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,425 shares of the company’s stock after selling 526 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in GE HealthCare Technologies were worth $111,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GEHC. Cherry Creek Investment Advisors Inc. grew its holdings in GE HealthCare Technologies by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock worth $2,920,000 after acquiring an additional 114 shares during the period. Independence Bank of Kentucky grew its stake in shares of GE HealthCare Technologies by 6.0% during the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock worth $158,000 after purchasing an additional 114 shares during the period. Tandem Capital Management Corp ADV grew its stake in shares of GE HealthCare Technologies by 0.4% during the 4th quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock worth $2,205,000 after purchasing an additional 118 shares during the period. Arcus Capital Partners LLC increased its holdings in shares of GE HealthCare Technologies by 3.0% during the 4th quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock valued at $322,000 after purchasing an additional 119 shares in the last quarter. Finally, Custom Index Systems LLC lifted its stake in shares of GE HealthCare Technologies by 4.4% in the 4th quarter. Custom Index Systems LLC now owns 2,843 shares of the company’s stock valued at $222,000 after purchasing an additional 120 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. The Goldman Sachs Group upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $100.00 in a research report on Tuesday, March 11th. Wells Fargo & Company lifted their price target on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Citigroup upped their price target on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.75.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $82.40 on Thursday. The company has a market cap of $37.68 billion, a P/E ratio of 19.03, a P/E/G ratio of 3.19 and a beta of 1.13. GE HealthCare Technologies Inc. has a twelve month low of $74.51 and a twelve month high of $94.80. The company’s 50-day moving average price is $87.17 and its 200-day moving average price is $86.08. 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) last issued its earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.19. The business had revenue of $5.32 billion for 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%. On average, sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal 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.