Mengis Capital Management Inc. Boosts Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Mengis Capital Management Inc. raised its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 31.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,362 shares of the company's stock after buying an additional 10,685 shares during the quarter. Mengis Capital Management Inc.'s holdings in GE HealthCare Technologies were worth $3,468,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GEHC. Impax Asset Management Group plc acquired a new position in GE HealthCare Technologies in the 4th quarter worth $660,000. Skylands Capital LLC boosted its position in shares of GE HealthCare Technologies by 19.7% during the fourth quarter. Skylands Capital LLC now owns 156,790 shares of the company's stock worth $12,258,000 after buying an additional 25,815 shares during the period. IFP Advisors Inc grew its holdings in shares of GE HealthCare Technologies by 15.1% during the fourth quarter. IFP Advisors Inc now owns 2,743 shares of the company's stock worth $215,000 after buying an additional 360 shares in the last quarter. Waverton Investment Management Ltd acquired a new stake in GE HealthCare Technologies in the 4th quarter valued at approximately $48,977,000. Finally, Union Bancaire Privee UBP SA bought a new stake in GE HealthCare Technologies in the 4th quarter valued at approximately $280,000. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock traded down $2.05 during midday trading on Friday, reaching $87.35. 4,214,406 shares of the company's stock were exchanged, compared to its average volume of 2,887,457. The stock's 50-day simple moving average is $86.00 and its 200 day simple moving average is $86.07. The firm has a market cap of $39.94 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 3.19 and a beta of 1.15. 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 Inc. has a 52 week low of $74.51 and a 52 week high of $94.80.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GEHC. Wells Fargo & Company lifted their price objective on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating and lifted their price target for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. Finally, Citigroup increased their price objective on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $97.67.

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.