Welch & Forbes LLC Has $816,000 Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Welch & Forbes LLC lessened its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.9% during the 4th quarter, HoldingsChannel reports. The firm owned 10,558 shares of the company’s stock after selling 200 shares during the period. Welch & Forbes LLC’s holdings in GE HealthCare Technologies were worth $816,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. First Command Advisory Services Inc. grew its holdings in GE HealthCare Technologies by 36,900.0% during the third quarter. First Command Advisory Services Inc. now owns 370 shares of the company’s stock worth $25,000 after purchasing an additional 369 shares during the period. OFI Invest Asset Management acquired a new position in shares of GE HealthCare Technologies in the third quarter valued at approximately $26,000. ORG Partners LLC increased its position in GE HealthCare Technologies by 174.2% during the third quarter. ORG Partners LLC now owns 425 shares of the company’s stock worth $29,000 after acquiring an additional 270 shares during the period. Fortitude Family Office LLC acquired a new position in shares of GE HealthCare Technologies during the 4th quarter worth approximately $29,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $30,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Trading Down 0.7 %

Shares of NASDAQ:GEHC traded down $0.59 during trading on Wednesday, reaching $80.84. The stock had a trading volume of 789,459 shares, compared to its average volume of 3,407,129. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The firm’s fifty day moving average is $87.81 and its 200 day moving average is $79.30. The stock has a market cap of $36.90 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 2.86 and a beta of 1.26. 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 (NASDAQ:GEHC) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, hitting 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 net margin of 8.05% and a return on equity of 25.32%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the company posted $0.85 earnings per share. As a group, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be issued a dividend of $0.03 per share. 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%.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, insider Frank R. Jimenez bought 1,315 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, May 1st. The stock was bought at an average cost of $76.52 per share, with a total value of $100,623.80. Following the completion of the acquisition, the insider now directly owns 75,796 shares in the company, valued at approximately $5,799,909.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Bank of America lowered their price objective on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Evercore ISI lifted their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Citigroup raised their target price on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Morgan Stanley upped their price objective on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Finally, UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $66.00 to $88.00 in a research note on Monday, February 12th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

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.