Cullen Frost Bankers Inc. Purchases 4,908 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cullen Frost Bankers Inc. boosted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 55.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,714 shares of the company’s stock after acquiring an additional 4,908 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in GE HealthCare Technologies were worth $1,072,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its position in GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after acquiring an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC raised its position in GE HealthCare Technologies by 7.2% during the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after acquiring an additional 733,819 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of GE HealthCare Technologies by 107.3% in the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock valued at $378,520,000 after purchasing an additional 2,506,417 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of GE HealthCare Technologies by 11.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,476,586 shares of the company’s stock valued at $271,800,000 after purchasing an additional 349,539 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of GE HealthCare Technologies by 9.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,959,256 shares of the company’s stock valued at $231,355,000 after purchasing an additional 248,318 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on GEHC shares. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. Citigroup upped their price objective on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company upped their price objective on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, February 14th. 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 stock. According to MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $97.67.

GE HealthCare Technologies Trading Up 1.4 %

GEHC stock opened at $86.58 on Friday. 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 company’s 50-day simple moving average is $86.63 and its 200 day simple moving average is $86.13. GE HealthCare Technologies Inc. has a 52 week low of $74.51 and a 52 week high of $94.80. The company has a market capitalization of $39.59 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) 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. The business 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, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current 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.