ING Groep NV Sells 23,441 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

ING Groep NV cut its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 74.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,237 shares of the company’s stock after selling 23,441 shares during the quarter. ING Groep NV’s holdings in GE HealthCare Technologies were worth $644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Handelsbanken Fonder AB increased its stake in shares of GE HealthCare Technologies by 52.2% during the 4th quarter. Handelsbanken Fonder AB now owns 249,201 shares of the company’s stock worth $19,483,000 after purchasing an additional 85,510 shares during the last quarter. Summit Place Financial Advisors LLC increased its stake in shares of GE HealthCare Technologies by 2.5% during the 4th quarter. Summit Place Financial Advisors LLC now owns 35,053 shares of the company’s stock worth $2,740,000 after purchasing an additional 867 shares during the last quarter. Chapman Investment Management LLC increased its stake in shares of GE HealthCare Technologies by 0.4% during the 4th quarter. Chapman Investment Management LLC now owns 83,071 shares of the company’s stock worth $6,494,000 after purchasing an additional 292 shares during the last quarter. Bank of Jackson Hole Trust acquired a new position in shares of GE HealthCare Technologies during the 4th quarter worth about $32,000. Finally, Braun Stacey Associates Inc. increased its stake in shares of GE HealthCare Technologies by 0.4% during the 4th quarter. Braun Stacey Associates Inc. now owns 221,509 shares of the company’s stock worth $17,318,000 after purchasing an additional 900 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GEHC shares. Wells Fargo & Company boosted their price objective on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Citigroup upped their price target 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. Finally, Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.67.

GE HealthCare Technologies Stock Down 0.6 %

Shares of GEHC opened at $90.57 on Tuesday. GE HealthCare Technologies Inc. has a 12 month low of $74.51 and a 12 month high of $94.80. The firm’s 50 day moving average is $85.26 and its 200-day moving average is $85.96. The stock has a market capitalization of $41.42 billion, a PE ratio of 20.92, a P/E/G ratio of 3.19 and a beta of 1.15. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.33 billion. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current 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.