GE HealthCare Technologies Inc. (NASDAQ:GEHC) Position Reduced by New England Research & Management Inc.

New England Research & Management Inc. lowered its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 73.7% in the 1st quarter, Holdings Channel.com reports. The firm 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 SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Capital Research Global Investors lifted its position in shares of GE HealthCare Technologies by 2.8% in the 4th quarter. Capital Research Global Investors now owns 51,344,719 shares of the company’s stock worth $3,969,975,000 after buying an additional 1,401,566 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of GE HealthCare Technologies by 14.7% during the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock valued at $3,029,917,000 after purchasing an additional 5,693,244 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in GE HealthCare Technologies by 9.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock valued at $426,186,000 after purchasing an additional 471,910 shares during the period. Dimensional Fund Advisors LP lifted its stake in GE HealthCare Technologies by 17.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,454,690 shares of the company’s stock valued at $267,121,000 after buying an additional 504,287 shares during the last quarter. Finally, Norges Bank bought a new position in shares of GE HealthCare Technologies during the fourth quarter worth about $229,052,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Evercore ISI upped their target price on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Argus raised their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Citigroup upped their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. The Goldman Sachs Group started coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They set a “neutral” rating and a $87.00 target price on the stock. Finally, Bank of America cut their price target on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.09.

Insider Activity at GE HealthCare Technologies

In related news, CEO Jan Makela sold 66,955 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total value of $5,459,510.70. Following the completion of the transaction, the chief executive officer now directly owns 63,348 shares in the company, valued at approximately $5,165,395.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other GE HealthCare Technologies news, CTO Taha Kass-Hout sold 3,300 shares of the business’s stock in a transaction that occurred 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 sale, the chief technology officer now owns 67,300 shares in the company, valued at approximately $5,296,510. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jan Makela sold 66,955 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the completion of the sale, the chief executive officer now owns 63,348 shares in the company, valued at $5,165,395.92. The disclosure for this sale can be found here. Insiders sold a total of 90,482 shares of company stock worth $7,369,137 in the last quarter. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Trading Down 1.1 %

GEHC opened at $77.92 on Friday. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50. The firm has a 50-day moving average price of $79.85 and a two-hundred day moving average price of $81.73. The stock has a market capitalization of $35.57 billion, a PE ratio of 22.78, a PEG ratio of 2.83 and a beta of 1.22. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11.

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

GE HealthCare Technologies Dividend Announcement

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

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.