State of Michigan Retirement System Has $37.05 Million Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

State of Michigan Retirement System raised its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 46.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 473,953 shares of the company's stock after acquiring an additional 149,600 shares during the period. State of Michigan Retirement System owned approximately 0.10% of GE HealthCare Technologies worth $37,054,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GEHC. LGT Financial Advisors LLC raised its stake in GE HealthCare Technologies by 1,673.3% in the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company's stock valued at $25,000 after purchasing an additional 251 shares in the last quarter. Capital Performance Advisors LLP bought a new position in GE HealthCare Technologies in the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new position in shares of GE HealthCare Technologies in the 3rd quarter valued at approximately $26,000. Darwin Wealth Management LLC acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth approximately $31,000. Finally, Continuum Advisory LLC boosted its position in shares of GE HealthCare Technologies by 101.8% during the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company's stock worth $31,000 after acquiring an additional 168 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup upped their target price on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Jefferies Financial Group raised GE HealthCare Technologies from a "hold" rating to a "buy" rating and boosted their price target for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, Wells Fargo & Company raised their price objective 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $97.67.

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GE HealthCare Technologies Trading Up 1.4 %

Shares of GE HealthCare Technologies stock traded up $1.17 on Friday, hitting $86.58. The stock had a trading volume of 4,075,712 shares, compared to its average volume of 2,984,066. The stock has a 50 day moving average of $86.63 and a 200 day moving average of $86.13. 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 Inc. has a twelve month low of $74.51 and a twelve month high of $94.80. The firm has a market capitalization of $39.59 billion, a P/E ratio of 20.00, a PEG ratio of 3.19 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (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 firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.33 billion. Sell-side analysts expect 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.