Massachusetts Financial Services Co. MA Buys New Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Massachusetts Financial Services Co. MA purchased a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 998,543 shares of the company’s stock, valued at approximately $93,713,000. Massachusetts Financial Services Co. MA owned 0.22% of GE HealthCare Technologies as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of GEHC. Pathway Financial Advisers LLC bought a new position in GE HealthCare Technologies in the 1st quarter valued at about $25,000. LGT Financial Advisors LLC increased its stake in shares of GE HealthCare Technologies by 1,673.3% during the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after acquiring an additional 251 shares during the period. Fred Alger Management LLC bought a new stake in GE HealthCare Technologies during the second quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new stake in GE HealthCare Technologies in the third quarter worth approximately $26,000. Finally, Ashton Thomas Securities LLC bought a new position in GE HealthCare Technologies during the 3rd quarter valued at $26,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

NASDAQ GEHC opened at $82.44 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $37.66 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 2.94 and a beta of 1.24. GE HealthCare Technologies Inc. has a 12-month low of $66.39 and a 12-month high of $94.55. The company has a 50 day moving average price of $88.35 and a two-hundred day moving average price of $83.60.

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

GE HealthCare Technologies Announces Dividend

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

Insider Activity at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction 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 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 owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GEHC. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, September 18th. UBS Group lowered shares of 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. Evercore ISI boosted their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $94.36.

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.