State of Michigan Retirement System Grows Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

State of Michigan Retirement System increased its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 46.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 473,953 shares of the company’s stock after buying an additional 149,600 shares during the quarter. State of Michigan Retirement System’s holdings in GE HealthCare Technologies were worth $37,054,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Mission Wealth Management LP grew its holdings in GE HealthCare Technologies by 26.8% during the fourth quarter. Mission Wealth Management LP now owns 3,068 shares of the company’s stock valued at $240,000 after purchasing an additional 648 shares during the period. Grandfield & Dodd LLC lifted its position in shares of GE HealthCare Technologies by 0.4% during the 4th quarter. Grandfield & Dodd LLC now owns 324,067 shares of the company’s stock valued at $25,336,000 after buying an additional 1,178 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of GE HealthCare Technologies during the 4th quarter valued at about $209,000. SBI Securities Co. Ltd. bought a new position in shares of GE HealthCare Technologies during the 4th quarter valued at approximately $393,000. Finally, Jones Financial Companies Lllp increased its holdings in GE HealthCare Technologies by 61.8% in the 4th quarter. Jones Financial Companies Lllp now owns 33,386 shares of the company’s stock worth $2,610,000 after acquiring an additional 12,758 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on GEHC. Wells Fargo & Company lifted their price target 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. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their target price for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. Finally, Citigroup increased their price target 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.67.

GE HealthCare Technologies Stock Down 1.0 %

GEHC opened at $86.45 on Tuesday. The company has a market capitalization of $39.53 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 3.19 and a beta of 1.15. The firm has a 50-day simple moving average of $86.31 and a two-hundred day simple moving average of $86.14. 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.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. Analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies 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.