Generali Investments Management Co LLC purchased a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,703 shares of the company's stock, valued at approximately $368,000.
A number of other hedge funds also recently bought and sold shares of the company. Cherry Creek Investment Advisors Inc. boosted its stake in GE HealthCare Technologies by 0.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company's stock worth $2,920,000 after purchasing an additional 114 shares during the period. Independence Bank of Kentucky raised its holdings in GE HealthCare Technologies by 6.0% during the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company's stock valued at $158,000 after buying an additional 114 shares during the period. Tandem Capital Management Corp ADV raised its holdings in GE HealthCare Technologies by 0.4% during the 4th quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company's stock valued at $2,205,000 after buying an additional 118 shares during the period. Arcus Capital Partners LLC raised its holdings in GE HealthCare Technologies by 3.0% during the 4th quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company's stock valued at $322,000 after buying an additional 119 shares during the period. Finally, Custom Index Systems LLC increased its stake in GE HealthCare Technologies by 4.4% in the fourth quarter. Custom Index Systems LLC now owns 2,843 shares of the company's stock worth $222,000 after purchasing an additional 120 shares during the period. Institutional investors own 82.06% of the company's stock.
Analyst Upgrades and Downgrades
GEHC has been the topic of several research reports. The Goldman Sachs Group upgraded GE HealthCare Technologies from a "neutral" rating to a "buy" rating and raised their price target for the company from $85.00 to $100.00 in a research note on Tuesday, March 11th. Wells Fargo & Company lifted their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Jefferies Financial Group upgraded 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 report on Wednesday, January 8th. Finally, Citigroup boosted their price objective on GE HealthCare Technologies from $103.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $98.75.
Check Out Our Latest Analysis on GEHC
GE HealthCare Technologies Stock Performance
Shares of GEHC stock traded down $0.32 during trading hours on Friday, reaching $81.49. 4,304,371 shares of the company's stock were exchanged, compared to its average volume of 2,809,332. GE HealthCare Technologies Inc. has a 1 year low of $74.51 and a 1 year high of $94.80. The company has a market cap of $37.27 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The company's 50 day moving average is $87.02 and its two-hundred day moving average is $86.03. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83.
GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share 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%. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.
About GE HealthCare Technologies
(
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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