MONECO Advisors LLC Takes $245,000 Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

MONECO Advisors LLC acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,128 shares of the company's stock, valued at approximately $245,000.

A number of other institutional investors also recently bought and sold shares of the business. Cherry Creek Investment Advisors Inc. increased its stake in GE HealthCare Technologies by 0.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company's stock valued at $2,920,000 after purchasing an additional 114 shares during the period. Independence Bank of Kentucky increased its stake in GE HealthCare Technologies by 6.0% in the fourth quarter. Independence Bank of Kentucky now owns 2,018 shares of the company's stock valued at $158,000 after purchasing an additional 114 shares during the period. Tandem Capital Management Corp ADV increased its stake in GE HealthCare Technologies by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company's stock valued at $2,205,000 after purchasing an additional 118 shares during the period. Arcus Capital Partners LLC increased its stake in GE HealthCare Technologies by 3.0% in the fourth quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company's stock valued at $322,000 after purchasing 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 valued at $222,000 after purchasing an additional 120 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research firms have commented 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 research note on Friday, February 14th. Citigroup lifted their price objective on shares of 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 raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating and lifted their target price for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $97.67.

GE HealthCare Technologies Price Performance

GEHC stock traded down $2.05 during trading on Friday, reaching $87.35. 4,214,406 shares of the company were exchanged, compared to its average volume of 2,887,457. The company has a market cap of $39.94 billion, a P/E ratio of 20.17, a PEG ratio of 3.19 and a beta of 1.15. GE HealthCare Technologies Inc. has a 52-week low of $74.51 and a 52-week high of $94.80. The stock's 50 day moving average price is $86.17 and its 200 day moving average price is $86.10. 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 released its quarterly earnings data on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping analysts' consensus estimates 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%. As a group, analysts predict 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.