Machina Capital S.A.S. Makes New $765,000 Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Machina Capital S.A.S. bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,787 shares of the company’s stock, valued at approximately $765,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Cherry Creek Investment Advisors Inc. raised its holdings in shares of GE HealthCare Technologies by 0.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock valued at $2,920,000 after purchasing an additional 114 shares in the last quarter. Independence Bank of Kentucky raised its holdings in shares of GE HealthCare Technologies by 6.0% in the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock valued at $158,000 after purchasing an additional 114 shares in the last quarter. Tandem Capital Management Corp ADV raised its holdings in shares of GE HealthCare Technologies by 0.4% in the 4th quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock valued at $2,205,000 after purchasing an additional 118 shares in the last quarter. Arcus Capital Partners LLC raised its holdings in shares of GE HealthCare Technologies by 3.0% in the 4th quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock valued at $322,000 after purchasing an additional 119 shares in the last quarter. Finally, Custom Index Systems LLC raised its holdings in shares of GE HealthCare Technologies by 4.4% in the 4th quarter. Custom Index Systems LLC now owns 2,843 shares of the company’s stock valued at $222,000 after purchasing an additional 120 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Trading Up 1.4 %

Shares of GE HealthCare Technologies stock opened at $86.58 on Friday. GE HealthCare Technologies Inc. has a 1 year low of $74.51 and a 1 year high of $94.80. 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 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. The company’s fifty day moving average is $86.77 and its two-hundred day moving average is $86.15.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.33 billion. Analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GEHC. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. Citigroup raised 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 increased their target price on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.67.

GE HealthCare Technologies Company Profile

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.