Cullen Frost Bankers Inc. Acquires 4,908 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cullen Frost Bankers Inc. grew its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 55.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,714 shares of the company's stock after buying an additional 4,908 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in GE HealthCare Technologies were worth $1,072,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. raised its position in GE HealthCare Technologies by 39.6% during the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company's stock valued at $383,000 after acquiring an additional 1,159 shares in the last quarter. Cathy Pareto & Associates Inc. acquired a new position in GE HealthCare Technologies during the fourth quarter valued at approximately $670,000. LMR Partners LLP acquired a new position in GE HealthCare Technologies during the third quarter valued at approximately $7,387,000. Principal Financial Group Inc. grew its holdings in GE HealthCare Technologies by 1.9% during the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company's stock valued at $94,780,000 after purchasing an additional 19,010 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in GE HealthCare Technologies during the third quarter valued at approximately $1,396,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GEHC has been the topic of several analyst reports. Citigroup increased their price target on GE HealthCare Technologies from $103.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Wells Fargo & Company increased their price target on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Finally, Jefferies Financial Group upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating and increased their price target for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies has an average rating of "Moderate Buy" and a consensus target price of $97.67.

Remove Ads

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC traded up $1.17 during midday trading on Friday, reaching $86.58. 4,075,712 shares of the company traded hands, compared to its average volume of 2,984,066. The firm 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 stock's 50-day simple moving average is $86.77 and its 200-day simple moving average is $86.15. GE HealthCare Technologies Inc. has a 12 month low of $74.51 and a 12 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.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.19. The company had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. As a group, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

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.