PGGM Investments Buys Shares of 7,406 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

PGGM Investments bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,406 shares of the company’s stock, valued at approximately $579,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEHC. State Street Corp lifted its stake in shares of GE HealthCare Technologies by 7.8% during the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after buying an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 buying an additional 733,819 shares in the last quarter. Van ECK Associates Corp lifted its stake 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 valued at $378,520,000 after buying an additional 2,506,417 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of GE HealthCare Technologies by 11.2% during the 4th quarter. Bank of New York Mellon Corp now owns 3,476,586 shares of the company’s stock valued at $271,800,000 after buying an additional 349,539 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of GE HealthCare Technologies by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,959,256 shares of the company’s stock valued at $231,355,000 after buying an additional 248,318 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $81.97 on Friday. The company’s fifty day moving average price is $87.26 and its 200-day moving average price is $86.10. The firm has a market capitalization of $37.48 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 3.19 and a beta of 1.13. GE HealthCare Technologies Inc. has a one year low of $74.51 and a one year high of $94.80. 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 (NASDAQ:GEHC) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. On average, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.