GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by Otter Creek Advisors LLC

Otter Creek Advisors LLC lifted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 40.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,995 shares of the company's stock after purchasing an additional 21,999 shares during the quarter. GE HealthCare Technologies makes up about 4.1% of Otter Creek Advisors LLC's investment portfolio, making the stock its 2nd largest position. Otter Creek Advisors LLC's holdings in GE HealthCare Technologies were worth $5,941,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in GE HealthCare Technologies by 2.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 24,693 shares of the company's stock worth $2,317,000 after purchasing an additional 562 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of GE HealthCare Technologies by 10.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 13,735 shares of the company's stock valued at $1,289,000 after purchasing an additional 1,256 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of GE HealthCare Technologies by 14.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 53,033 shares of the company's stock worth $4,977,000 after buying an additional 6,870 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of GE HealthCare Technologies by 2.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 76,349 shares of the company's stock worth $7,165,000 after buying an additional 1,920 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of GE HealthCare Technologies by 111.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,792 shares of the company's stock worth $544,000 after buying an additional 3,048 shares during the period. 82.06% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

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

GE HealthCare Technologies Price Performance

GEHC traded down $2.05 during midday trading on Friday, hitting $87.35. The company had a trading volume of 4,214,406 shares, compared to its average volume of 2,887,457. GE HealthCare Technologies Inc. has a twelve month low of $74.51 and a twelve month high of $94.80. The company has a market capitalization of $39.94 billion, a PE 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. The firm's 50-day simple moving average is $86.17 and its 200-day simple moving average is $86.12.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The business had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $5.33 billion. Equities research analysts predict 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.