Generali Investments Management Co LLC Buys New Shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Generali Investments Management Co LLC bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,703 shares of the company’s stock, valued at approximately $368,000.

Other institutional investors have also recently bought and sold shares of the company. D1 Capital Partners L.P. purchased a new stake in GE HealthCare Technologies during the third quarter worth approximately $268,159,000. Van ECK Associates Corp grew its stake in GE HealthCare Technologies by 107.3% during the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock worth $378,520,000 after buying an additional 2,506,417 shares during the period. State Street Corp grew its stake in GE HealthCare Technologies by 7.8% during 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. Massachusetts Financial Services Co. MA purchased a new stake in GE HealthCare Technologies during the third quarter worth approximately $93,713,000. Finally, Jennison Associates LLC grew its stake 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 during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GEHC shares. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. The Goldman Sachs Group upgraded shares of 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 note on Tuesday, March 11th. 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. Finally, Citigroup boosted their target price on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.75.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock opened at $82.14 on Wednesday. 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 Inc. has a 1 year low of $74.51 and a 1 year high of $94.80. The firm’s 50-day simple moving average is $87.25 and its 200-day simple moving average is $86.10. The firm has a market cap of $37.56 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.19. The firm had revenue of $5.32 billion for 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%. Equities analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

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.