GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC reduced its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,558 shares of the company’s stock after selling 200 shares during the quarter. Welch & Forbes LLC’s holdings in GE HealthCare Technologies were worth $816,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Apollon Wealth Management LLC boosted its position in GE HealthCare Technologies by 42.2% during the 4th quarter. Apollon Wealth Management LLC now owns 6,224 shares of the company’s stock valued at $481,000 after purchasing an additional 1,847 shares during the period. Private Advisor Group LLC lifted its position in GE HealthCare Technologies by 17.5% in the 4th quarter. Private Advisor Group LLC now owns 27,723 shares of the company’s stock worth $2,143,000 after buying an additional 4,127 shares in the last quarter. Todd Asset Management LLC bought a new position in shares of GE HealthCare Technologies during the 4th quarter valued at $10,145,000. Knuff & Co LLC boosted its position in GE HealthCare Technologies by 50.6% during the fourth quarter. Knuff & Co LLC now owns 9,112 shares of the company’s stock worth $705,000 after purchasing an additional 3,061 shares during the period. Finally, Merit Financial Group LLC lifted its position in GE HealthCare Technologies by 11.0% during the 4th quarter. Merit Financial Group LLC now owns 7,262 shares of the company’s stock worth $561,000 after acquiring an additional 719 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other GE HealthCare Technologies news, insider Frank R. Jimenez acquired 1,315 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were purchased at an average cost of $76.52 per share, with a total value of $100,623.80. Following the completion of the purchase, the insider now owns 75,796 shares of the company’s stock, valued at $5,799,909.92. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on GEHC. Evercore ISI lifted their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Argus boosted their price target on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Morgan Stanley increased their price target on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lifted their target price for the company from $66.00 to $88.00 in a research report on Monday, February 12th. Finally, HSBC assumed coverage on shares of GE HealthCare Technologies in a research note on Thursday, February 15th. They issued a “buy” rating and a $100.00 price target for the company. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC traded down $0.59 during midday trading on Wednesday, reaching $80.84. 789,459 shares of the company were exchanged, compared to its average volume of 3,407,129. 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 one year low of $62.35 and a one year high of $94.50. The stock has a market cap of $36.90 billion, a P/E ratio of 23.81, a PEG ratio of 2.86 and a beta of 1.26. The stock’s 50-day moving average price is $87.81 and its 200-day moving average price is $79.30.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, meeting analysts’ consensus estimates of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period last year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.15%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 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.