Massachusetts Financial Services Co. MA Invests $93.71 Million in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Massachusetts Financial Services Co. MA acquired a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 998,543 shares of the company's stock, valued at approximately $93,713,000. Massachusetts Financial Services Co. MA owned about 0.22% of GE HealthCare Technologies as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. LGT Financial Advisors LLC raised its holdings 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 purchasing an additional 251 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of GE HealthCare Technologies in the 3rd quarter worth $26,000. Pathway Financial Advisers LLC bought a new stake in shares of GE HealthCare Technologies in the first quarter worth $25,000. Capital Performance Advisors LLP bought a new stake in shares of GE HealthCare Technologies in the third quarter worth $26,000. Finally, Darwin Wealth Management LLC purchased a new stake in GE HealthCare Technologies during the third quarter valued at $31,000. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Price Performance

Shares of GEHC traded up $0.44 during mid-day trading on Friday, hitting $82.44. 5,934,944 shares of the stock were exchanged, compared to its average volume of 3,795,040. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The company has a market cap 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 52-week low of $66.39 and a 52-week high of $94.55. The firm has a 50-day moving average of $88.35 and a two-hundred day moving average of $83.62.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. GE HealthCare Technologies's revenue was up .9% on a year-over-year basis. On average, equities analysts predict that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.15%. GE HealthCare Technologies's payout ratio is presently 3.85%.

Insider Buying and Selling

In related news, CEO Roland Rott sold 3,577 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the sale, the chief executive officer now directly owns 24,298 shares of the company's stock, valued at $2,101,291.04. This represents a 12.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on GEHC. BTIG Research raised shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research report on Wednesday, September 18th. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a "strong-buy" rating in a research report on Thursday, August 1st. UBS Group downgraded shares of GE HealthCare Technologies from a "neutral" rating to a "sell" rating and cut their price objective for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Wells Fargo & Company raised their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus lifted their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a "buy" rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of "Moderate Buy" and an average 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.