New England Research & Management Inc. Cuts Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

New England Research & Management Inc. decreased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 73.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,438 shares of the company’s stock after selling 15,215 shares during the period. New England Research & Management Inc.’s holdings in GE HealthCare Technologies were worth $494,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. AMF Tjanstepension AB purchased a new stake in GE HealthCare Technologies during the first quarter worth about $35,734,000. Register Financial Advisors LLC purchased a new stake in GE HealthCare Technologies in the first quarter worth $186,000. Artemis Investment Management LLP raised its stake in shares of GE HealthCare Technologies by 23.6% in the first quarter. Artemis Investment Management LLP now owns 112,004 shares of the company’s stock valued at $10,177,000 after buying an additional 21,401 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of GE HealthCare Technologies by 0.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 197,493 shares of the company’s stock valued at $17,954,000 after buying an additional 1,817 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new stake in GE HealthCare Technologies in the 1st quarter worth about $255,000. Institutional investors own 82.06% of the company’s stock.

Insider Transactions at GE HealthCare Technologies

In related news, insider Frank R. Jimenez purchased 1,315 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, May 1st. The stock was purchased at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the acquisition, the insider now directly owns 75,796 shares of the company’s stock, valued at $5,799,909.92. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other GE HealthCare Technologies news, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the completion of the sale, the chief technology officer now owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Frank R. Jimenez purchased 1,315 shares of the stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average cost 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 of the company’s stock, valued at $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 ninety days. 0.27% of the stock is currently owned by corporate insiders.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $77.92 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.50. The stock has a market cap of $35.57 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 2.83 and a beta of 1.22. The firm’s fifty day simple moving average is $79.85 and its 200 day simple moving average is $81.73.

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

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. GE HealthCare Technologies’s payout ratio is 3.51%.

Analyst Upgrades and Downgrades

GEHC has been the topic of several research reports. Citigroup boosted their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group initiated coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They set 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. Argus lifted their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Evercore ISI lifted their price target on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus price target of $94.09.

About GE HealthCare Technologies

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.