GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Westchester Capital Management Inc.

Westchester Capital Management Inc. lowered its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,657 shares of the company’s stock after selling 121 shares during the quarter. Westchester Capital Management Inc.’s holdings in GE HealthCare Technologies were worth $364,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GEHC. State Street Corp boosted its stake in GE HealthCare Technologies by 7.8% in the third 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. Geode Capital Management LLC boosted its stake in GE HealthCare Technologies by 7.2% in the third 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 boosted its stake in GE HealthCare Technologies by 107.3% in the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock valued at $378,520,000 after acquiring an additional 2,506,417 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in 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 acquiring an additional 349,539 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in GE HealthCare Technologies by 9.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,959,256 shares of the company’s stock valued at $231,355,000 after acquiring an additional 248,318 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GEHC shares. Wells Fargo & Company upped their price objective 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. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. Citigroup upped 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. Finally, 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 company from $85.00 to $100.00 in a report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.75.

GE HealthCare Technologies Trading Up 0.3 %

Shares of GE HealthCare Technologies stock opened at $85.59 on Wednesday. GE HealthCare Technologies Inc. has a 12-month low of $74.51 and a 12-month high of $94.80. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The stock has a market cap of $39.14 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The company has a 50-day moving average of $87.06 and a two-hundred day moving average of $86.17.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $5.33 billion. On average, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal 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.