United Services Automobile Association Takes Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

United Services Automobile Association bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,251 shares of the company’s stock, valued at approximately $801,000.

Several other institutional investors and hedge funds have also bought and sold shares of GEHC. Vanguard Group Inc. increased its holdings in shares of GE HealthCare Technologies by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock worth $4,107,378,000 after purchasing an additional 2,155,429 shares during the period. State Street Corp increased its stake in GE HealthCare Technologies by 7.8% in the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after acquiring an additional 1,347,114 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of GE HealthCare Technologies by 7.2% in 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 acquiring an additional 733,819 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of 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 acquiring an additional 2,506,417 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of GE HealthCare Technologies by 11.2% during the fourth quarter. Bank of New York Mellon Corp now owns 3,476,586 shares of the company’s stock worth $271,800,000 after purchasing an additional 349,539 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GEHC shares. Wells Fargo & Company lifted their target price on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. The Goldman Sachs Group raised shares of 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. 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 report on Thursday, February 13th. Finally, Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average target price of $98.75.

GE HealthCare Technologies Trading Up 0.3 %

NASDAQ GEHC opened at $81.70 on Tuesday. The firm has a market cap of $37.36 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. GE HealthCare Technologies Inc. has a 1-year low of $74.51 and a 1-year high of $94.80. The stock has a 50-day moving average of $86.94 and a 200-day moving average of $85.98. 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 announced 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. As a group, sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS 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.