Graney & King LLC Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Graney & King LLC bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 966 shares of the company’s stock, valued at approximately $75,000.

A number of other institutional investors have also modified their holdings of GEHC. Vanguard Group Inc. grew its position in GE HealthCare Technologies by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock worth $4,107,378,000 after purchasing an additional 2,155,429 shares during the last quarter. State Street Corp increased its position in GE HealthCare Technologies by 7.8% in the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after acquiring an additional 1,347,114 shares during the period. Geode Capital Management LLC raised its stake in GE HealthCare Technologies by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock valued at $1,026,898,000 after acquiring an additional 733,819 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of GE HealthCare Technologies by 107.3% in the 4th 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. Finally, 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 period. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GEHC has been the subject of several recent research reports. The Goldman Sachs Group raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $100.00 in a report on Tuesday, March 11th. Citigroup lifted their target price 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. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, Wells Fargo & Company boosted their target price on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. One equities 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $98.75.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $82.46 on Wednesday. GE HealthCare Technologies Inc. has a one year low of $74.51 and a one year high of $94.80. The stock has a market cap of $37.71 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The business’s fifty day moving average price is $86.91 and its two-hundred day moving average price is $85.96. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. On average, analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

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.