GE HealthCare Technologies Inc. (NASDAQ:GEHC) Position Increased by Parallel Advisors LLC

Parallel Advisors LLC increased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,135 shares of the company’s stock after acquiring an additional 135 shares during the period. Parallel Advisors LLC’s holdings in GE HealthCare Technologies were worth $558,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GEHC. Darwin Wealth Management LLC acquired a new position in GE HealthCare Technologies during the third quarter worth $31,000. Continuum Advisory LLC increased its position in GE HealthCare Technologies by 101.8% during the third quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock worth $31,000 after buying an additional 168 shares during the last quarter. Bank of Jackson Hole Trust acquired a new position in GE HealthCare Technologies during the fourth quarter worth $32,000. OFI Invest Asset Management acquired a new position in GE HealthCare Technologies during the fourth quarter worth $34,000. Finally, Avion Wealth increased its position in GE HealthCare Technologies by 497.4% during the fourth quarter. Avion Wealth now owns 460 shares of the company’s stock worth $35,000 after buying an additional 383 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wells Fargo & Company increased 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. Citigroup raised 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. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $95.00 to $103.00 in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $100.00 in a research report on Tuesday, March 11th. One 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.75.

GE HealthCare Technologies Stock Down 0.7 %

GEHC stock opened at $81.81 on Friday. GE HealthCare Technologies Inc. has a twelve month low of $74.51 and a twelve month high of $94.80. The company has a market cap of $37.41 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The business’s 50-day simple moving average is $87.08 and its 200 day simple moving average is $86.05. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. On average, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current 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.