Proficio Capital Partners LLC Buys Shares of 99,454 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Proficio Capital Partners LLC purchased a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 99,454 shares of the company's stock, valued at approximately $7,775,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its holdings in GE HealthCare Technologies by 10.9% in the third quarter. Farther Finance Advisors LLC now owns 4,520 shares of the company's stock worth $424,000 after purchasing an additional 443 shares during the period. Janney Capital Management LLC bought a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth about $295,000. Janney Montgomery Scott LLC acquired a new stake in shares of GE HealthCare Technologies in the 3rd quarter worth approximately $4,367,000. Van ECK Associates Corp bought a new position in shares of GE HealthCare Technologies in the third quarter valued at approximately $208,513,000. Finally, Forum Financial Management LP increased its stake in shares of GE HealthCare Technologies by 5.4% during the third quarter. Forum Financial Management LP now owns 6,084 shares of the company's stock valued at $571,000 after acquiring an additional 314 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Trading Down 0.1 %

GEHC stock traded down $0.12 during mid-day trading on Thursday, reaching $84.64. 1,773,922 shares of the stock traded hands, compared to its average volume of 2,894,970. GE HealthCare Technologies Inc. has a 52-week low of $74.51 and a 52-week high of $94.80. The stock's fifty day moving average is $86.52 and its 200-day moving average is $86.13. The company has a market cap of $38.71 billion, a P/E ratio of 19.61, a P/E/G ratio of 3.19 and a beta of 1.15. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88.

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GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $5.33 billion. As a group, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

Analysts Set New Price Targets

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

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.