Massachusetts Wealth Management Buys 2,794 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Massachusetts Wealth Management lifted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 33.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 11,071 shares of the company’s stock after purchasing 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 reporting period.

Other institutional investors have also made changes to their positions in the company. Jennison Associates LLC boosted its stake in shares of GE HealthCare Technologies by 49.4% in the fourth quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock valued at $93,467,000 after buying an additional 399,961 shares during the period. South Dakota Investment Council lifted its stake in GE HealthCare Technologies by 272.1% during the fourth quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock worth $7,598,000 after purchasing an additional 71,857 shares during the last quarter. US Bancorp DE lifted its stake in GE HealthCare Technologies by 83.4% during the fourth quarter. US Bancorp DE now owns 146,524 shares of the company’s stock worth $11,329,000 after purchasing an additional 66,638 shares during the last quarter. Cerity Partners LLC lifted its stake in GE HealthCare Technologies by 27.2% during the fourth quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock worth $3,551,000 after purchasing an additional 9,809 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of GE HealthCare Technologies by 3.9% in the 4th quarter. Fifth Third Bancorp now owns 33,632 shares of the company’s stock valued at $2,600,000 after acquiring an additional 1,250 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other GE HealthCare Technologies news, insider Frank R. Jimenez acquired 1,315 shares of the stock in a transaction on Wednesday, May 1st. The shares were purchased at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the acquisition, the insider now 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 is available at this hyperlink. In other GE HealthCare Technologies news, insider Frank R. Jimenez acquired 1,315 shares of the stock in a transaction on Wednesday, May 1st. The shares were purchased at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the acquisition, the insider now 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 is available at this hyperlink. Also, CEO Jan Makela sold 66,955 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $5,165,395.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,482 shares of company stock worth $7,369,137. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Up 1.2 %

Shares of GE HealthCare Technologies stock traded up $0.91 during trading on Thursday, reaching $77.24. 1,343,190 shares of the company traded hands, compared to its average volume of 2,833,598. 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 1-year low of $62.35 and a 1-year high of $94.50. The company has a 50 day moving average price of $79.30 and a 200-day moving average price of $81.83. The firm has a market capitalization of $35.26 billion, a PE ratio of 22.58, a P/E/G ratio of 2.75 and a beta of 1.20.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the company earned $0.85 EPS. GE HealthCare Technologies’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have issued reports on GEHC. Evercore ISI upped their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Argus lifted their price target on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Citigroup increased their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Mizuho cut their target price on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Bank of America reduced their price target on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average price target of $94.09.

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.