Principal Securities Inc. Increases Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Principal Securities Inc. lifted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 681.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,983 shares of the company’s stock after purchasing an additional 5,217 shares during the period. Principal Securities Inc.’s holdings in GE HealthCare Technologies were worth $468,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GEHC. D1 Capital Partners L.P. purchased a new stake in shares of GE HealthCare Technologies in the 3rd quarter worth about $268,159,000. Van ECK Associates Corp lifted its position 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 acquiring an additional 2,506,417 shares during the period. State Street Corp lifted its position 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 acquiring an additional 1,347,114 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in GE HealthCare Technologies during the 3rd quarter valued at about $93,713,000. Finally, Jennison Associates LLC lifted its position in GE HealthCare Technologies by 124.5% during the 4th quarter. Jennison Associates LLC now owns 1,709,635 shares of the company’s stock valued at $133,659,000 after acquiring an additional 948,017 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $91.09 on Friday. The company has a 50 day moving average price of $85.05 and a 200-day moving average price of $85.83. GE HealthCare Technologies Inc. has a 52 week low of $74.51 and a 52 week high of $94.80. The firm 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 announced its quarterly earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. As a group, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GEHC shares. Wells Fargo & Company lifted their price target 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. Citigroup lifted their price target on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $95.00 to $103.00 in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average price target of $97.67.

About GE HealthCare Technologies

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.