AlphaQuest LLC Takes Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

AlphaQuest LLC purchased a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,328 shares of the company’s stock, valued at approximately $417,000.

A number of other hedge funds also recently modified their holdings of GEHC. OFI Invest Asset Management bought a new position in GE HealthCare Technologies during the fourth quarter worth about $34,000. United Community Bank increased its position in GE HealthCare Technologies by 2,891.9% in the 4th quarter. United Community Bank now owns 1,107 shares of the company’s stock valued at $87,000 after acquiring an additional 1,070 shares during the period. Amundi increased its position in GE HealthCare Technologies by 45.9% during the 4th quarter. Amundi now owns 1,726,902 shares of the company’s stock valued at $148,963,000 after purchasing an additional 542,944 shares during the period. Larson Financial Group LLC raised its position in shares of GE HealthCare Technologies by 21.2% in the 4th quarter. Larson Financial Group LLC now owns 3,807 shares of the company’s stock worth $298,000 after acquiring an additional 665 shares in the last quarter. Finally, Machina Capital S.A.S. bought a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at $765,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Down 2.8 %

Shares of GEHC stock opened at $81.45 on Friday. The firm has a market cap of $37.25 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. GE HealthCare Technologies Inc. has a 12-month low of $74.51 and a 12-month high of $94.80. The business has a 50-day moving average price of $87.17 and a two-hundred day moving average price of $86.16. 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 announced its quarterly 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 business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.33 billion. Equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GEHC has been the topic of a number of recent research reports. Citigroup raised their price objective on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $95.00 to $103.00 in a research report on Wednesday, January 8th. The Goldman Sachs Group raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $100.00 in a research report on Tuesday. Finally, Wells Fargo & Company boosted their price objective on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $98.75.

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.