Eastern Bank Purchases Shares of 2,169 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Eastern Bank acquired a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the third quarter, HoldingsChannel.com reports. The fund acquired 2,169 shares of the company’s stock, valued at approximately $204,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of GE HealthCare Technologies by 9.2% during the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after acquiring an additional 4,107,746 shares during the last quarter. Bank of Montreal Can lifted its position in GE HealthCare Technologies by 27.5% during the 2nd quarter. Bank of Montreal Can now owns 696,446 shares of the company’s stock worth $54,964,000 after acquiring an additional 150,137 shares during the period. Sei Investments Co. grew its stake in GE HealthCare Technologies by 30.6% during the 1st quarter. Sei Investments Co. now owns 279,336 shares of the company’s stock valued at $25,393,000 after purchasing an additional 65,476 shares during the last quarter. Chevy Chase Trust Holdings LLC increased its holdings 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 valued at $21,403,000 after purchasing an additional 15,522 shares during the period. Finally, BNP Paribas purchased a new position in shares of GE HealthCare Technologies in the first quarter worth about $30,000. Institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of the sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GEHC. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Wednesday, September 18th. Evercore ISI boosted their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their target price for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Finally, Stifel Nicolaus upped their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $94.23.

GE HealthCare Technologies Stock Down 0.4 %

Shares of NASDAQ:GEHC opened at $88.90 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $40.58 billion, a P/E ratio of 25.99, a P/E/G ratio of 3.39 and a beta of 1.18. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.55. The stock’s fifty day simple moving average is $88.28 and its 200-day simple moving average is $83.41.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.88 billion. During the same quarter last year, the firm earned $0.92 earnings per share. The business’s revenue was up .5% on a year-over-year basis. As a group, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

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.