Grandfield & Dodd LLC Increases Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Grandfield & Dodd LLC raised its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 315,685 shares of the company’s stock after acquiring an additional 16,800 shares during the quarter. GE HealthCare Technologies makes up about 1.8% of Grandfield & Dodd LLC’s holdings, making the stock its 21st largest holding. Grandfield & Dodd LLC’s holdings in GE HealthCare Technologies were worth $28,699,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Fortitude Family Office LLC acquired a new stake in GE HealthCare Technologies during the 4th quarter worth about $29,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter worth about $30,000. BNP Paribas purchased a new stake in GE HealthCare Technologies in the first quarter valued at approximately $30,000. Sachetta LLC purchased a new stake in GE HealthCare Technologies in the fourth quarter valued at approximately $31,000. Finally, Rise Advisors LLC increased its holdings in GE HealthCare Technologies by 241.4% in the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after buying an additional 239 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity at GE HealthCare Technologies

In related news, insider Frank R. Jimenez bought 1,315 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was bought at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the acquisition, the insider now directly owns 75,796 shares in the company, valued at $5,799,909.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jan Makela sold 20,227 shares of GE HealthCare Technologies stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $81.57, for a total transaction of $1,649,916.39. Following the sale, the chief executive officer now owns 63,348 shares of the company’s stock, valued at approximately $5,167,296.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 price of $76.52 per share, with a total value of $100,623.80. Following the completion of the acquisition, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The disclosure for this purchase can be found here. In the last quarter, insiders sold 90,482 shares of company stock valued at $7,369,137. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of GEHC stock traded up $0.80 during trading hours on Thursday, hitting $79.94. 2,540,258 shares of the company’s stock were exchanged, compared to its average volume of 3,132,204. The firm has a 50 day moving average of $78.76 and a two-hundred day moving average of $81.86. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.50. The firm has a market cap of $36.49 billion, a P/E ratio of 23.37, a P/E/G ratio of 2.75 and a beta of 1.20. 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 (NASDAQ:GEHC) last announced its earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, meeting analysts’ consensus estimates of $0.90. The business had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.27 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective on the stock. Evercore ISI lifted their price objective on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Mizuho decreased their price objective on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Bank of America dropped their target price on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Citigroup upped their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.09.

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.