Otter Creek Advisors LLC Has $5.94 Million Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Otter Creek Advisors LLC boosted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 40.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 75,995 shares of the company’s stock after purchasing an additional 21,999 shares during the quarter. GE HealthCare Technologies makes up 4.1% of Otter Creek Advisors LLC’s portfolio, making the stock its 2nd biggest holding. Otter Creek Advisors LLC’s holdings in GE HealthCare Technologies were worth $5,941,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. State Street Corp raised its position in shares of 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 in the last quarter. Geode Capital Management LLC increased 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 valued at $1,026,898,000 after purchasing 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% in the 4th quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock worth $378,520,000 after purchasing an additional 2,506,417 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of GE HealthCare Technologies by 11.2% in the 4th 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, D1 Capital Partners L.P. bought a new position in GE HealthCare Technologies during the 3rd quarter valued at approximately $268,159,000. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on GEHC. Citigroup boosted their target price on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Wells Fargo & Company upped their price target on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.67.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $90.67 on Thursday. The firm has a market cap of $41.46 billion, a PE ratio of 20.94, a P/E/G ratio of 3.19 and a beta of 1.15. GE HealthCare Technologies Inc. has a 1-year low of $74.51 and a 1-year high of $94.80. 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 firm has a fifty day simple moving average of $85.76 and a two-hundred day simple moving average of $86.05.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.33 billion. On average, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

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.