GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by Morse Asset Management Inc

Morse Asset Management Inc lifted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 177.1% in the first quarter, HoldingsChannel reports. The firm owned 15,000 shares of the company’s stock after buying an additional 9,586 shares during the period. Morse Asset Management Inc’s holdings in GE HealthCare Technologies were worth $1,364,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GEHC. Wynn Capital LLC lifted its position in GE HealthCare Technologies by 4.1% in the first quarter. Wynn Capital LLC now owns 3,125 shares of the company’s stock valued at $284,000 after buying an additional 122 shares during the last quarter. Byrne Asset Management LLC grew its stake in shares of GE HealthCare Technologies by 0.8% in the first quarter. Byrne Asset Management LLC now owns 16,424 shares of the company’s stock worth $1,493,000 after acquiring an additional 126 shares in the last quarter. Fiduciary Trust Co grew its stake in shares of GE HealthCare Technologies by 1.8% in the fourth quarter. Fiduciary Trust Co now owns 7,696 shares of the company’s stock worth $595,000 after acquiring an additional 133 shares in the last quarter. WASHINGTON TRUST Co increased its position in shares of GE HealthCare Technologies by 7.7% during the first quarter. WASHINGTON TRUST Co now owns 1,853 shares of the company’s stock worth $168,000 after acquiring an additional 133 shares during the period. Finally, Quent Capital LLC boosted its holdings in GE HealthCare Technologies by 21.3% in the first quarter. Quent Capital LLC now owns 780 shares of the company’s stock valued at $71,000 after purchasing an additional 137 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on GEHC shares. Mizuho cut their price target on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Evercore ISI increased 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 report on Thursday, April 4th. Citigroup lifted their price objective on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group initiated coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target on the stock. Finally, Argus boosted their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Five 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 price target of $94.09.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock traded up $0.58 during midday trading on Friday, hitting $80.50. 2,532,946 shares of the company’s stock were exchanged, compared to its average volume of 2,617,851. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06. The stock has a market cap of $36.75 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 2.90 and a beta of 1.20. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50. The firm’s 50 day simple moving average is $78.65 and its 200 day simple moving average is $82.22.

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

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend is Friday, July 19th. GE HealthCare Technologies’s payout ratio is currently 3.51%.

Insider Transactions at GE HealthCare Technologies

In related news, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction 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 approximately $5,296,510. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other GE HealthCare Technologies news, insider Frank R. Jimenez bought 1,315 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average cost of $76.52 per share, with a total value of $100,623.80. Following the purchase, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Taha Kass-Hout sold 3,300 shares of the firm’s 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 completion of the sale, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at $5,296,510. The disclosure for this sale can be found here. Insiders sold 90,482 shares of company stock worth $7,369,137 over the last 90 days. 0.27% of the stock is currently owned by insiders.

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.