Grandfield & Dodd LLC Acquires 16,800 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Grandfield & Dodd LLC raised its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 315,685 shares of the company’s stock after buying an additional 16,800 shares during the quarter. GE HealthCare Technologies comprises 1.8% of Grandfield & Dodd LLC’s investment portfolio, making the stock its 21st largest position. Grandfield & Dodd LLC owned approximately 0.07% of GE HealthCare Technologies worth $28,699,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Capital Research Global Investors increased its position in GE HealthCare Technologies by 2.8% during the 4th quarter. Capital Research Global Investors now owns 51,344,719 shares of the company’s stock valued at $3,969,975,000 after purchasing an additional 1,401,566 shares during the period. Vanguard Group Inc. increased its position 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 buying an additional 5,693,244 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in GE HealthCare Technologies by 9.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock worth $426,186,000 after buying an additional 471,910 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 worth $267,121,000 after buying an additional 504,287 shares during the period. Finally, Norges Bank bought a new stake in GE HealthCare Technologies during the 4th quarter valued at approximately $229,052,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

GE HealthCare Technologies Stock Up 1.0 %

Shares of GEHC stock traded up $0.80 during mid-day trading on Thursday, hitting $79.94. The company’s stock had a trading volume of 2,540,258 shares, compared to its average volume of 3,132,204. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50. The stock has a market cap of $36.49 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 2.75 and a beta of 1.20. The business has a 50-day moving average price of $78.76 and a 200 day moving average price of $81.86.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the firm posted $0.85 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. Research analysts predict that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be paid 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 dividend payout ratio is presently 3.51%.

Insider Buying and Selling at GE HealthCare Technologies

In other news, insider Frank R. Jimenez acquired 1,315 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now owns 75,796 shares in the company, valued at $5,799,909.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other GE HealthCare Technologies news, CTO Taha Kass-Hout sold 3,300 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total value of $259,710.00. Following the transaction, the chief technology officer now directly owns 67,300 shares in the company, valued at $5,296,510. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Frank R. Jimenez purchased 1,315 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the purchase, the insider now directly owns 75,796 shares in the company, valued at $5,799,909.92. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 90,482 shares of company stock worth $7,369,137. Insiders own 0.27% of the company’s stock.

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.