Massachusetts Wealth Management Purchases 147 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Massachusetts Wealth Management lifted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,368 shares of the company’s stock after purchasing an additional 147 shares during the quarter. Massachusetts Wealth Management’s holdings in GE HealthCare Technologies were worth $1,255,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Capital Research Global Investors boosted its holdings in GE HealthCare Technologies by 5.2% in the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after acquiring an additional 2,647,204 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of GE HealthCare Technologies by 9.2% in the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after purchasing an additional 4,107,746 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of GE HealthCare Technologies by 18.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock worth $97,088,000 after purchasing an additional 189,956 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of GE HealthCare Technologies by 2.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,025,320 shares of the company’s stock worth $93,212,000 after purchasing an additional 20,776 shares during the last quarter. Finally, Stonegate Investment Group LLC raised its stake in shares of GE HealthCare Technologies by 1.0% in the third quarter. Stonegate Investment Group LLC now owns 979,649 shares of the company’s stock worth $91,940,000 after purchasing an additional 9,572 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GEHC has been the subject of a number of research reports. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price on the stock. Finally, Evercore ISI raised their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.23.

GE HealthCare Technologies Price Performance

GEHC traded up $0.43 on Friday, hitting $89.33. 327,667 shares of the company’s stock traded hands, compared to its average volume of 2,983,448. The company’s 50 day simple moving average is $88.35 and its 200-day simple moving average is $83.45. The firm has a market cap of $40.78 billion, a price-to-earnings ratio of 25.99, a P/E/G ratio of 3.39 and a beta of 1.18. GE HealthCare Technologies Inc. has a one year low of $62.35 and a one year high of $94.55. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter in the previous year, the company posted $0.92 EPS. The company’s revenue was up .5% compared to the same quarter last year. As a group, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s payout ratio is 3.51%.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.27% of the company’s stock.

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.