River Road Asset Management LLC Decreases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

River Road Asset Management LLC cut its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 61.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 97,463 shares of the company's stock after selling 156,269 shares during the period. River Road Asset Management LLC's holdings in GE HealthCare Technologies were worth $7,620,000 as of its most recent SEC filing.

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

GE HealthCare Technologies Trading Up 0.3 %

Shares of GEHC opened at $85.59 on Wednesday. The firm's fifty day moving average is $87.06 and its two-hundred day moving average is $86.17. The stock has a market cap of $39.14 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a 52-week low of $74.51 and a 52-week high of $94.80.

Remove Ads

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its 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. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The business had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $5.33 billion. Research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on GEHC shares. The Goldman Sachs Group raised shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $85.00 to $100.00 in a research note on Tuesday. Citigroup raised their price target on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group raised GE HealthCare Technologies from a "hold" rating to a "buy" rating and increased their price target 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, two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $98.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.