GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stake Raised by Homestead Advisers Corp

Homestead Advisers Corp grew its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 43.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 513,100 shares of the company’s stock after purchasing an additional 154,700 shares during the period. Homestead Advisers Corp owned approximately 0.11% of GE HealthCare Technologies worth $40,114,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. CoreFirst Bank & Trust bought a new stake in GE HealthCare Technologies during the fourth quarter worth approximately $25,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $28,000. Continuum Advisory LLC lifted its holdings in shares of GE HealthCare Technologies by 101.8% during the third quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock valued at $31,000 after purchasing an additional 168 shares during the last quarter. Bank of Jackson Hole Trust acquired a new position in shares of GE HealthCare Technologies in the 4th quarter valued at $32,000. Finally, OFI Invest Asset Management purchased a new position in GE HealthCare Technologies in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GEHC shares. Citigroup raised their target price on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Wells Fargo & Company raised their price objective on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their target price for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $100.00 in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.75.

GE HealthCare Technologies Price Performance

NASDAQ GEHC opened at $81.00 on Thursday. The company has a 50 day moving average price of $86.86 and a two-hundred day moving average price of $85.93. GE HealthCare Technologies Inc. has a 12-month low of $74.51 and a 12-month high of $94.80. The stock has a market capitalization of $37.04 billion, a PE ratio of 18.71, 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 (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 analysts’ consensus estimates 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 analysts’ expectations of $5.33 billion. As a group, equities analysts predict 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.