Lake Street Advisors Group LLC Boosts Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Lake Street Advisors Group LLC raised its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 11.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,837 shares of the company’s stock after purchasing an additional 288 shares during the period. Lake Street Advisors Group LLC’s holdings in GE HealthCare Technologies were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp raised its holdings in shares of GE HealthCare Technologies by 7.8% in the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after buying an additional 1,347,114 shares during the period. Geode Capital Management LLC boosted its position 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 in the last quarter. Van ECK Associates Corp lifted its holdings 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 purchasing an additional 2,506,417 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings 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 purchasing an additional 349,539 shares during the last quarter. Finally, D1 Capital Partners L.P. purchased a new position in GE HealthCare Technologies in the 3rd quarter worth $268,159,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Down 2.3 %

GEHC stock opened at $87.35 on Friday. The company’s 50 day simple moving average is $86.17 and its 200-day simple moving average is $86.10. The firm has a market capitalization of $39.94 billion, a PE ratio of 20.17, a P/E/G ratio of 3.19 and a beta of 1.15. GE HealthCare Technologies Inc. has a 12 month low of $74.51 and a 12 month 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 announced its earnings results 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 firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.33 billion. Equities analysts expect 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 equities research analysts have recently commented on GEHC shares. Wells Fargo & Company raised their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $95.00 to $103.00 in a research report on Wednesday, January 8th. Finally, Citigroup boosted their target price 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.67.

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.