Grandfield & Dodd LLC Grows Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Grandfield & Dodd LLC grew its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 34.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 298,885 shares of the company’s stock after purchasing an additional 76,035 shares during the quarter. GE HealthCare Technologies comprises approximately 1.6% of Grandfield & Dodd LLC’s investment portfolio, making the stock its 24th biggest holding. Grandfield & Dodd LLC’s holdings in GE HealthCare Technologies were worth $23,110,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cerity Partners LLC grew its holdings in GE HealthCare Technologies by 27.2% in the fourth quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock worth $3,551,000 after purchasing an additional 9,809 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of GE HealthCare Technologies by 3.9% during the fourth quarter. Fifth Third Bancorp now owns 33,632 shares of the company’s stock worth $2,600,000 after buying an additional 1,250 shares during the period. Douglas Lane & Associates LLC lifted its stake in shares of GE HealthCare Technologies by 22.1% during the fourth quarter. Douglas Lane & Associates LLC now owns 436,253 shares of the company’s stock worth $33,731,000 after buying an additional 79,073 shares during the period. Prio Wealth Limited Partnership lifted its stake in shares of GE HealthCare Technologies by 25.1% during the fourth quarter. Prio Wealth Limited Partnership now owns 215,317 shares of the company’s stock worth $16,648,000 after buying an additional 43,189 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of GE HealthCare Technologies by 34.9% during the third quarter. The Manufacturers Life Insurance Company now owns 341,769 shares of the company’s stock worth $23,254,000 after buying an additional 88,384 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GEHC shares. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $66.00 to $88.00 in a research note on Monday, February 12th. Mizuho boosted their target price on shares of GE HealthCare Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Morgan Stanley boosted their target price on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Argus boosted their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, 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 research report on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.09.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock traded down $0.48 during trading hours on Friday, reaching $84.49. The stock had a trading volume of 2,022,710 shares, compared to its average volume of 2,568,032. The firm has a market capitalization of $38.56 billion, a PE ratio of 27.98, a PEG ratio of 2.96 and a beta of 0.94. The stock’s 50 day moving average is $88.74 and its 200 day moving average is $77.82. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 1.18. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Tuesday, February 6th. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.09 billion. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.31 earnings per share. Equities analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio is currently 3.97%.

GE HealthCare Technologies 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.