ING Groep NV Sells 23,441 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

ING Groep NV decreased its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 74.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,237 shares of the company's stock after selling 23,441 shares during the quarter. ING Groep NV's holdings in GE HealthCare Technologies were worth $644,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. D1 Capital Partners L.P. bought a new position in GE HealthCare Technologies during the third quarter valued at approximately $268,159,000. Van ECK Associates Corp raised its stake in GE HealthCare Technologies by 107.3% during the 4th 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 holdings in shares of GE HealthCare Technologies by 7.8% during the 3rd 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 period. Massachusetts Financial Services Co. MA purchased a new position in shares of GE HealthCare Technologies in the 3rd quarter worth $93,713,000. Finally, Jennison Associates LLC boosted its stake in shares of GE HealthCare Technologies by 124.5% in the 4th quarter. Jennison Associates LLC now owns 1,709,635 shares of the company's stock worth $133,659,000 after buying an additional 948,017 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

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

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GE HealthCare Technologies Stock Performance

NASDAQ GEHC traded down $2.05 on Friday, reaching $87.35. 4,214,323 shares of the stock were exchanged, compared to its average volume of 2,884,411. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a one year low of $74.51 and a one year high of $94.80. The firm has a market capitalization of $39.94 billion, a PE ratio of 20.17, a PEG ratio of 3.19 and a beta of 1.15. The company's 50-day simple moving average is $86.00 and its two-hundred day simple moving average is $86.07.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.26 by $0.19. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. Analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS 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.