Chevy Chase Trust Holdings LLC Acquires 15,522 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Chevy Chase Trust Holdings LLC increased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.1% during the first quarter, Holdings Channel reports. The firm owned 235,436 shares of the company’s stock after buying an additional 15,522 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in GE HealthCare Technologies were worth $21,403,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of GEHC. Vanguard Group Inc. raised its holdings in shares of GE HealthCare Technologies by 14.7% in the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock valued at $3,029,917,000 after purchasing an additional 5,693,244 shares during the period. Norges Bank bought a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at about $229,052,000. Capital Research Global Investors raised its holdings in shares of GE HealthCare Technologies by 2.8% in the 4th quarter. Capital Research Global Investors now owns 51,344,719 shares of the company’s stock valued at $3,969,975,000 after purchasing an additional 1,401,566 shares during the period. Perpetual Ltd acquired a new position in GE HealthCare Technologies in the 1st quarter valued at about $96,135,000. Finally, Stonegate Investment Group LLC grew its stake in GE HealthCare Technologies by 3,555.0% in the 4th quarter. Stonegate Investment Group LLC now owns 654,391 shares of the company’s stock valued at $50,598,000 after buying an additional 636,487 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Up 2.0 %

Shares of GEHC stock traded up $1.57 on Thursday, reaching $80.71. 156,935 shares of the company were exchanged, compared to its average volume of 3,114,149. GE HealthCare Technologies Inc. has a one year low of $62.35 and a one year high of $94.50. The company has a market cap of $36.84 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 2.75 and a beta of 1.20. The company has a 50-day moving average of $78.72 and a 200-day moving average of $81.87. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.90. The business 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 company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 earnings per share. Analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.03 per share. 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 dividend payout ratio is currently 3.51%.

Wall Street Analyst Weigh In

GEHC has been the topic of a number of research reports. Bank of America decreased their price target on shares of 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. The Goldman Sachs Group started coverage on shares of GE HealthCare Technologies in a research report on Thursday, May 30th. They set a “neutral” rating and a $87.00 target price on the stock. Citigroup increased their target price 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. Argus increased their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Evercore ISI increased their target price on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.09.

Insider Transactions at GE HealthCare Technologies

In related news, CTO Taha Kass-Hout sold 3,300 shares of the stock in a transaction on Tuesday, May 28th. The stock was 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 approximately $5,296,510. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other GE HealthCare Technologies news, insider Frank R. Jimenez acquired 1,315 shares of the business’s stock in a transaction that occurred on 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 acquisition, the insider now owns 75,796 shares in the company, valued at $5,799,909.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Taha Kass-Hout sold 3,300 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the completion of the transaction, 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 a total of 90,482 shares of company stock valued at $7,369,137 over the last three months. Corporate insiders own 0.27% of the company’s stock.

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.