Rakuten Securities Inc. Increases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Rakuten Securities Inc. raised its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 345.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 508 shares of the company’s stock after buying an additional 394 shares during the quarter. Rakuten Securities Inc.’s holdings in GE HealthCare Technologies were worth $40,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. D1 Capital Partners L.P. purchased a new position in shares of GE HealthCare Technologies in the third quarter valued at $268,159,000. Van ECK Associates Corp grew its holdings in shares of GE HealthCare Technologies by 107.3% in the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock valued at $378,520,000 after purchasing an additional 2,506,417 shares in the last quarter. State Street Corp grew its holdings in shares of GE HealthCare Technologies by 7.8% in the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after purchasing an additional 1,347,114 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of GE HealthCare Technologies in the third quarter valued at $93,713,000. Finally, Jennison Associates LLC grew its holdings in shares of GE HealthCare Technologies by 124.5% in the fourth quarter. Jennison Associates LLC now owns 1,709,635 shares of the company’s stock valued at $133,659,000 after purchasing an additional 948,017 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GEHC. The Goldman Sachs Group raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $100.00 in a report on Tuesday. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. Citigroup raised their target price on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company raised their price target on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $98.75.

GE HealthCare Technologies Stock Down 2.1 %

NASDAQ:GEHC opened at $83.79 on Thursday. 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 $38.32 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The stock has a fifty day simple moving average of $87.17 and a 200-day simple moving average of $86.16. 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 released its quarterly earnings data 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 return on equity of 25.74% and a net margin of 10.13%. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.33 billion. Analysts anticipate 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.