Independent Advisor Alliance Acquires 414 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Independent Advisor Alliance grew its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,886 shares of the company’s stock after purchasing an additional 414 shares during the period. Independent Advisor Alliance’s holdings in GE HealthCare Technologies were worth $617,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp grew its stake in shares of GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after buying an additional 1,347,114 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of GE HealthCare Technologies by 7.2% during the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after buying an additional 733,819 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of GE HealthCare Technologies by 107.3% during the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock worth $378,520,000 after buying an additional 2,506,417 shares during the last quarter. Bank of New York Mellon Corp grew its stake 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 buying an additional 349,539 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of GE HealthCare Technologies by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,959,256 shares of the company’s stock worth $231,355,000 after buying an additional 248,318 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities 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 boosted their target price for the stock from $85.00 to $100.00 in a report on Tuesday, March 11th. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Wells Fargo & Company boosted their target price 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. Finally, Citigroup upped their target price on GE HealthCare Technologies from $103.00 to $110.00 and gave the company 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 issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.75.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $81.97 on Monday. The stock has a market capitalization of $37.48 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 3.19 and a beta of 1.13. GE HealthCare Technologies Inc. has a 52-week low of $74.51 and a 52-week high of $94.80. The stock’s 50 day moving average price is $87.26 and its two-hundred day moving average price is $86.13. 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 (NASDAQ:GEHC) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. The firm had revenue of $5.32 billion for 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%. On average, equities analysts predict 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.