GE HealthCare Technologies Inc. (NASDAQ:GEHC) Holdings Raised by Massachusetts Wealth Management

Massachusetts Wealth Management increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 33.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,071 shares of the company’s stock after buying an additional 2,794 shares during the quarter. Massachusetts Wealth Management’s holdings in GE HealthCare Technologies were worth $1,006,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC grew its stake in GE HealthCare Technologies by 241.4% during the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after buying an additional 239 shares during the last quarter. Riverview Trust Co bought a new position in shares of GE HealthCare Technologies in the first quarter worth $31,000. Annapolis Financial Services LLC grew its stake in shares of GE HealthCare Technologies by 171.9% in the first quarter. Annapolis Financial Services LLC now owns 348 shares of the company’s stock worth $32,000 after purchasing an additional 220 shares in the last quarter. Fortitude Family Office LLC bought a new position in shares of GE HealthCare Technologies in the fourth quarter worth $29,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of GE HealthCare Technologies in the fourth quarter worth $30,000. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Up 1.2 %

GE HealthCare Technologies stock traded up $0.91 during mid-day trading on Thursday, hitting $77.24. The company’s stock had a trading volume of 1,343,190 shares, compared to its average volume of 2,833,598. The firm’s 50 day moving average is $79.30 and its 200 day moving average is $81.83. The company has a market cap of $35.26 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 2.75 and a beta of 1.20. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the business earned $0.85 EPS. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.16%. The ex-dividend date is Friday, July 19th. GE HealthCare Technologies’s payout ratio is currently 3.51%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GEHC shares. Citigroup increased their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. The Goldman Sachs Group began coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective for the company. Bank of America cut their price objective on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Evercore ISI upped their price objective on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Mizuho cut their price objective on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $94.09.

Insiders Place Their Bets

In other news, insider Frank R. Jimenez bought 1,315 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average cost of $76.52 per share, with a total value of $100,623.80. Following the transaction, the insider now directly owns 75,796 shares in the company, valued at approximately $5,799,909.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Jan Makela sold 66,955 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the transaction, the chief executive officer now owns 63,348 shares of the company’s stock, valued at approximately $5,165,395.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Frank R. Jimenez acquired 1,315 shares of the stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the acquisition, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The disclosure for this purchase can be found here. Insiders have sold a total of 90,482 shares of company stock valued at $7,369,137 in the last three months. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies 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.