Bowen Hanes & Co. Inc. Acquires 600 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Bowen Hanes & Co. Inc. lifted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.3% during the fourth quarter, HoldingsChannel reports. The firm owned 18,845 shares of the company’s stock after purchasing an additional 600 shares during the period. Bowen Hanes & Co. Inc.’s holdings in GE HealthCare Technologies were worth $1,473,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Cherry Creek Investment Advisors Inc. grew its position in GE HealthCare Technologies by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock worth $2,920,000 after buying an additional 114 shares in the last quarter. Independence Bank of Kentucky grew its position in GE HealthCare Technologies by 6.0% during the fourth quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock worth $158,000 after buying an additional 114 shares in the last quarter. Tandem Capital Management Corp ADV grew its position in GE HealthCare Technologies by 0.4% during the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock worth $2,205,000 after buying an additional 118 shares in the last quarter. Arcus Capital Partners LLC grew its position in GE HealthCare Technologies by 3.0% during the fourth quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock worth $322,000 after buying an additional 119 shares in the last quarter. Finally, Custom Index Systems LLC grew its position in GE HealthCare Technologies by 4.4% during the fourth quarter. Custom Index Systems LLC now owns 2,843 shares of the company’s stock worth $222,000 after buying an additional 120 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Down 2.1 %

Shares of GEHC opened at $83.79 on Thursday. The company has a market capitalization of $38.32 billion, a P/E ratio of 19.35, a PEG ratio of 3.19 and a beta of 1.13. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a one year low of $74.51 and a one year high of $94.80. The business’s 50 day simple moving average is $87.17 and its 200-day simple moving average is $86.16.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping 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 return on equity of 25.74% and a net margin of 10.13%. As a group, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GEHC shares. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. The Goldman Sachs Group raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $100.00 in a report on Tuesday. Citigroup lifted their price objective on 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 lifted their price objective on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $98.75.

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.