Mediolanum International Funds Ltd Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Mediolanum International Funds Ltd bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 96,885 shares of the company’s stock, valued at approximately $8,750,000.

Several other institutional investors have also recently made changes to their positions in the stock. Schwarz Dygos Wheeler Investment Advisors LLC raised its position in shares of GE HealthCare Technologies by 9.2% in the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 4,486 shares of the company’s stock worth $408,000 after buying an additional 377 shares in the last quarter. Chevy Chase Trust Holdings LLC raised its position in shares of GE HealthCare Technologies by 7.1% in the first quarter. Chevy Chase Trust Holdings LLC now owns 235,436 shares of the company’s stock worth $21,403,000 after buying an additional 15,522 shares in the last quarter. Wellington Shields Capital Management LLC raised its position in shares of GE HealthCare Technologies by 10.5% in the first quarter. Wellington Shields Capital Management LLC now owns 3,323 shares of the company’s stock worth $302,000 after buying an additional 315 shares in the last quarter. Wellington Shields & Co. LLC raised its position in shares of GE HealthCare Technologies by 10.2% in the first quarter. Wellington Shields & Co. LLC now owns 2,296 shares of the company’s stock worth $209,000 after buying an additional 213 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of GE HealthCare Technologies in the first quarter worth $442,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded up $2.27 during trading hours on Wednesday, hitting $79.14. The stock had a trading volume of 2,475,194 shares, compared to its average volume of 3,136,720. 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 Inc. has a 12 month low of $62.35 and a 12 month high of $94.50. The firm has a market capitalization of $36.12 billion, a PE ratio of 22.48, a PEG ratio of 2.75 and a beta of 1.20. The stock has a fifty day moving average price of $78.70 and a 200 day moving average price of $81.89.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, hitting the consensus estimate of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. GE HealthCare Technologies’s revenue was down 1.2% compared to the same quarter last year. Analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 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 Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

Analyst Upgrades and Downgrades

GEHC has been the topic of a number of recent research reports. Bank of America reduced 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. The Goldman Sachs Group initiated coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective on the stock. Citigroup raised their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI raised their price objective on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Mizuho reduced their price objective on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and six 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 an average target price of $94.09.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CTO Taha Kass-Hout sold 3,300 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the sale, the chief technology officer now owns 67,300 shares of the company’s stock, valued at $5,296,510. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other GE HealthCare Technologies news, insider Frank R. Jimenez acquired 1,315 shares of the stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now directly owns 75,796 shares of the company’s stock, valued at $5,799,909.92. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Taha Kass-Hout sold 3,300 shares of the business’s stock in a transaction dated 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 transaction, the chief technology officer now owns 67,300 shares in the company, valued at $5,296,510. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,482 shares of company stock valued at $7,369,137. Company insiders own 0.27% of the company’s stock.

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.