KLP Kapitalforvaltning AS Purchases New Shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

KLP Kapitalforvaltning AS purchased a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 154,479 shares of the company’s stock, valued at approximately $12,077,000.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in GE HealthCare Technologies by 7.8% during the 3rd 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. Geode Capital Management LLC grew its holdings in GE HealthCare Technologies by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock valued at $1,026,898,000 after purchasing an additional 733,819 shares in the last quarter. Van ECK Associates Corp grew its holdings in GE HealthCare Technologies by 107.3% during the 4th 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. Bank of New York Mellon Corp grew its holdings in GE HealthCare Technologies by 11.2% during the 4th quarter. Bank of New York Mellon Corp now owns 3,476,586 shares of the company’s stock valued at $271,800,000 after purchasing an additional 349,539 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in GE HealthCare Technologies by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,959,256 shares of the company’s stock valued at $231,355,000 after purchasing an additional 248,318 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

GE HealthCare Technologies Trading Down 0.4 %

GE HealthCare Technologies stock opened at $81.49 on Monday. The firm’s 50-day moving average is $87.02 and its 200-day moving average is $86.02. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. GE HealthCare Technologies Inc. has a 1 year low of $74.51 and a 1 year high of $94.80. The company has a market cap of $37.27 billion, a P/E ratio of 18.82, a PEG ratio of 3.19 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last issued 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. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. On average, equities analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

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.