Blue Trust Inc. Reduces Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Blue Trust Inc. lessened its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 36.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,478 shares of the company’s stock after selling 856 shares during the quarter. Blue Trust Inc.’s holdings in GE HealthCare Technologies were worth $116,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp grew its stake in GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after acquiring an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 733,819 shares during the period. Van ECK Associates Corp grew 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 purchasing an additional 2,506,417 shares in the last quarter. D1 Capital Partners L.P. bought a new position in shares of GE HealthCare Technologies in the third quarter worth $268,159,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of GE HealthCare Technologies by 12.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after buying an additional 290,019 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $91.09 on Friday. The firm has a fifty day simple moving average of $85.05 and a two-hundred day simple moving average of $85.83. 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 capitalization of $41.66 billion, a PE ratio of 21.04, a P/E/G ratio of 3.20 and a beta of 1.15. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results 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 company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. Research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GEHC. Wells Fargo & Company boosted their target price 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. Jefferies Financial Group raised 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 report on Wednesday, January 8th. Finally, Citigroup upped their price objective 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.67.

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.