Massachusetts Financial Services Co. MA Buys 312,088 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Massachusetts Financial Services Co. MA increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 31.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,310,631 shares of the company’s stock after buying an additional 312,088 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.29% of GE HealthCare Technologies worth $102,465,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GEHC. Cherry Creek Investment Advisors Inc. lifted its position in shares of GE HealthCare Technologies by 0.3% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock worth $2,920,000 after buying an additional 114 shares in the last quarter. Independence Bank of Kentucky raised 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. Haverford Trust Co boosted its holdings in shares of GE HealthCare Technologies by 2.4% in the 4th quarter. Haverford Trust Co now owns 4,896 shares of the company’s stock worth $383,000 after buying an additional 115 shares during the last quarter. Tandem Capital Management Corp ADV raised its position in GE HealthCare Technologies by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock worth $2,205,000 after acquiring an additional 118 shares during the period. Finally, Arcus Capital Partners LLC boosted its stake in GE HealthCare Technologies by 3.0% in the fourth quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock valued at $322,000 after acquiring an additional 119 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on GEHC shares. The Goldman Sachs Group raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $100.00 in a report on Tuesday, March 11th. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Citigroup boosted their price target on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company increased their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.73.

GE HealthCare Technologies Trading Down 16.0 %

Shares of GEHC opened at $60.51 on Friday. The firm’s 50 day simple moving average is $85.41 and its 200 day simple moving average is $85.44. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The company has a market capitalization of $27.67 billion, a P/E ratio of 13.97, a P/E/G ratio of 3.19 and a beta of 1.13. GE HealthCare Technologies Inc. has a 1-year low of $58.04 and a 1-year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. The firm 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%. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio is 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.