GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 52.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 249,201 shares of the company’s stock after acquiring an additional 85,510 shares during the period. Handelsbanken Fonder AB owned about 0.05% of GE HealthCare Technologies worth $19,483,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. State Street Corp increased its stake in shares of GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after purchasing an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of GE HealthCare Technologies by 7.2% during the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after purchasing an additional 733,819 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of GE HealthCare Technologies by 107.3% during the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock worth $378,520,000 after purchasing an additional 2,506,417 shares in the last quarter. D1 Capital Partners L.P. purchased a new stake in shares of GE HealthCare Technologies during the third quarter worth about $268,159,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of GE HealthCare Technologies by 12.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after purchasing an additional 290,019 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $91.09 on Friday. The firm has a 50 day simple moving average of $85.05 and a 200-day simple moving average of $85.83. GE HealthCare Technologies Inc. has a 1-year low of $74.51 and a 1-year high of $94.80. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The stock has a market cap of $41.66 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 3.20 and a beta of 1.15.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, beating 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 business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.33 billion. On average, analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. Citigroup upped 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. Finally, 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. 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $97.67.

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.