Massachusetts Financial Services Co. MA Takes $93.71 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Massachusetts Financial Services Co. MA bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 998,543 shares of the company’s stock, valued at approximately $93,713,000.

Several other large investors have also recently bought and sold shares of the stock. Van ECK Associates Corp acquired a new position in shares of GE HealthCare Technologies during the third quarter valued at about $208,513,000. Marshall Wace LLP acquired a new position in GE HealthCare Technologies in the 2nd quarter valued at approximately $63,639,000. Jacobs Levy Equity Management Inc. raised its holdings in GE HealthCare Technologies by 4,959.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock valued at $68,957,000 after acquiring an additional 743,523 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of GE HealthCare Technologies by 10,227.3% in the 3rd quarter. International Assets Investment Management LLC now owns 621,913 shares of the company’s stock worth $58,367,000 after acquiring an additional 615,891 shares during the period. Finally, Blackstone Inc. acquired a new stake in shares of GE HealthCare Technologies during the 1st quarter worth approximately $31,818,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wells Fargo & Company upped their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus increased their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Evercore ISI lifted their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. Finally, Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.36.

Insider Activity at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the sale, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is currently owned by company insiders.

GE HealthCare Technologies Trading Up 0.5 %

Shares of GEHC opened at $82.44 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The company has a market cap of $37.66 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 2.94 and a beta of 1.24. The stock has a fifty day moving average price of $88.35 and a two-hundred day moving average price of $83.60. GE HealthCare Technologies Inc. has a 52-week low of $66.39 and a 52-week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the previous year, the business posted $0.99 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts predict that GE HealthCare Technologies Inc. will post 4.29 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a dividend of $0.03 per share. The ex-dividend date was Friday, October 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.30%.

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.