Charles Schwab Investment Management Inc. boosted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,959,256 shares of the company's stock after purchasing an additional 248,318 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.65% of GE HealthCare Technologies worth $231,355,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in GEHC. D1 Capital Partners L.P. acquired a new position in GE HealthCare Technologies in the third quarter worth $268,159,000. Van ECK Associates Corp lifted its stake in GE HealthCare Technologies by 107.3% in the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company's stock valued at $378,520,000 after buying an additional 2,506,417 shares during the last quarter. State Street Corp lifted its stake in GE HealthCare Technologies by 7.8% in the third quarter. State Street Corp now owns 18,615,890 shares of the company's stock valued at $1,747,101,000 after buying an additional 1,347,114 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in GE HealthCare Technologies in the third quarter valued at $93,713,000. Finally, Jennison Associates LLC lifted its stake in GE HealthCare Technologies by 124.5% in the fourth quarter. Jennison Associates LLC now owns 1,709,635 shares of the company's stock valued at $133,659,000 after buying an additional 948,017 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.
GE HealthCare Technologies Price Performance
NASDAQ GEHC traded up $1.17 on Friday, reaching $86.58. The company's stock had a trading volume of 4,075,712 shares, compared to its average volume of 2,984,066. GE HealthCare Technologies Inc. has a twelve month low of $74.51 and a twelve month high of $94.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The stock has a market cap of $39.59 billion, a PE ratio of 20.00, a PEG ratio of 3.19 and a beta of 1.13. The firm's 50 day moving average is $86.77 and its two-hundred day moving average is $86.16.
GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.33 billion. As a group, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on GEHC shares. Wells Fargo & Company raised their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Citigroup raised their target price on GE HealthCare Technologies from $103.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating and raised their target price for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $97.67.
View Our Latest Report on GE HealthCare Technologies
GE HealthCare Technologies Profile
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Free Report)
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.
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