Sound Shore Management Inc. CT Increases Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sound Shore Management Inc. CT grew its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 775,341 shares of the company’s stock after purchasing an additional 19,208 shares during the quarter. Sound Shore Management Inc. CT owned approximately 0.17% of GE HealthCare Technologies worth $60,616,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GEHC. Runnymede Capital Advisors Inc. purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at $28,000. Continuum Advisory LLC increased its holdings in GE HealthCare Technologies by 101.8% in the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock worth $31,000 after acquiring an additional 168 shares during the last quarter. Bank of Jackson Hole Trust purchased a new stake in GE HealthCare Technologies in the 4th quarter worth about $32,000. OFI Invest Asset Management purchased a new stake in GE HealthCare Technologies in the 4th quarter worth about $34,000. Finally, Flagship Wealth Advisors LLC purchased a new stake in GE HealthCare Technologies in the 4th quarter worth about $34,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Shares of GEHC opened at $81.49 on Monday. The company has a market cap of $37.27 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. 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 stock has a 50-day moving average price of $87.02 and a 200-day moving average price of $86.02. GE HealthCare Technologies Inc. has a 12-month low of $74.51 and a 12-month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.19. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. As a group, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal 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.