Intech Investment Management LLC Purchases 291,675 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Intech Investment Management LLC raised its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1,429.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 312,080 shares of the company’s stock after acquiring an additional 291,675 shares during the quarter. Intech Investment Management LLC’s holdings in GE HealthCare Technologies were worth $24,398,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of GEHC. D1 Capital Partners L.P. bought a new stake in GE HealthCare Technologies during the third quarter valued at $268,159,000. Van ECK Associates Corp boosted its position in shares of GE HealthCare Technologies by 107.3% during the 4th quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock worth $378,520,000 after purchasing an additional 2,506,417 shares in the last quarter. State Street Corp lifted 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 in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in GE HealthCare Technologies during the third quarter worth $93,713,000. Finally, Jennison Associates LLC grew its holdings in GE HealthCare Technologies by 124.5% during the fourth quarter. Jennison Associates LLC now owns 1,709,635 shares of the company’s stock worth $133,659,000 after buying an additional 948,017 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

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

GE HealthCare Technologies Trading Up 0.6 %

Shares of GEHC opened at $82.47 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $37.71 billion, a P/E ratio of 19.05, a PEG ratio of 3.19 and a beta of 1.13. The firm has a fifty day simple moving average of $87.27 and a two-hundred day simple moving average of $86.12. GE HealthCare Technologies Inc. has a twelve month low of $74.51 and a twelve month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last posted 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 company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.33 billion. On average, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current 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.