Teacher Retirement System of Texas Increases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Teacher Retirement System of Texas lifted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 167.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 112,203 shares of the company’s stock after buying an additional 70,300 shares during the quarter. Teacher Retirement System of Texas’ holdings in GE HealthCare Technologies were worth $8,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cherry Creek Investment Advisors Inc. increased its position in shares of GE HealthCare Technologies by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock valued at $2,920,000 after buying an additional 114 shares during the period. Independence Bank of Kentucky boosted its stake in GE HealthCare Technologies by 6.0% during the fourth quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock worth $158,000 after acquiring an additional 114 shares in the last quarter. Tandem Capital Management Corp ADV boosted its stake in GE HealthCare Technologies by 0.4% during the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock worth $2,205,000 after acquiring an additional 118 shares in the last quarter. Arcus Capital Partners LLC boosted its stake in GE HealthCare Technologies by 3.0% during the fourth quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock worth $322,000 after acquiring an additional 119 shares in the last quarter. Finally, Custom Index Systems LLC boosted its stake in GE HealthCare Technologies by 4.4% during the fourth quarter. Custom Index Systems LLC now owns 2,843 shares of the company’s stock worth $222,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Down 0.4 %

Shares of GEHC stock opened at $81.49 on Friday. GE HealthCare Technologies Inc. has a 12-month low of $74.51 and a 12-month high of $94.80. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The firm’s 50 day moving average is $87.02 and its 200 day moving average is $86.03. The stock has a market capitalization of $37.27 billion, a P/E ratio of 18.82, a P/E/G ratio of 3.19 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (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. Research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented 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. The Goldman Sachs Group raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $100.00 in a research note on Tuesday, March 11th. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. Finally, Citigroup upped their target price on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $98.75.

GE HealthCare Technologies Company 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.