Sound Shore Management Inc. CT Purchases 19,208 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sound Shore Management Inc. CT increased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 775,341 shares of the company’s stock after buying an additional 19,208 shares during the quarter. Sound Shore Management Inc. CT’s holdings in GE HealthCare Technologies were worth $60,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GEHC. Thrivent Financial for Lutherans lifted its position in GE HealthCare Technologies by 16.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 25,408 shares of the company’s stock worth $2,385,000 after buying an additional 3,602 shares during the last quarter. Pathstone Holdings LLC increased its stake in GE HealthCare Technologies by 3.2% in the 3rd quarter. Pathstone Holdings LLC now owns 33,820 shares of the company’s stock worth $3,174,000 after purchasing an additional 1,063 shares during the period. Prospera Financial Services Inc increased its stake in GE HealthCare Technologies by 5.3% in the 3rd quarter. Prospera Financial Services Inc now owns 5,014 shares of the company’s stock worth $471,000 after purchasing an additional 253 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in GE HealthCare Technologies in the 3rd quarter worth approximately $93,713,000. Finally, Eagle Asset Management Inc. purchased a new position in GE HealthCare Technologies in the 3rd quarter worth approximately $3,251,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on GEHC. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. The Goldman Sachs Group raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $100.00 in a research note on Tuesday, March 11th. Citigroup lifted their price target on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company lifted their price target on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average price target of $98.75.

GE HealthCare Technologies Price Performance

Shares of GEHC stock opened at $81.49 on Monday. The stock has a market cap of $37.27 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 3.19 and a beta of 1.13. The business’s fifty day moving average is $87.02 and its 200 day moving average is $86.02. GE HealthCare Technologies Inc. has a twelve month low of $74.51 and a twelve month high of $94.80. 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 issued its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.19. The company 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%. Research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS 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.