QRG Capital Management Inc. Acquires 6,011 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

QRG Capital Management Inc. grew its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 84.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,139 shares of the company’s stock after acquiring an additional 6,011 shares during the period. QRG Capital Management Inc.’s holdings in GE HealthCare Technologies were worth $1,027,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GEHC. D1 Capital Partners L.P. bought a new position in GE HealthCare Technologies during the 3rd quarter worth approximately $268,159,000. Van ECK Associates Corp increased its position 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 period. State Street Corp increased its position 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 period. Massachusetts Financial Services Co. MA bought a new position in GE HealthCare Technologies during the third quarter worth $93,713,000. Finally, Jennison Associates LLC boosted its position in GE HealthCare Technologies by 124.5% during the fourth 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 last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective 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 upgraded 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. Finally, Citigroup increased their price target on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.67.

GE HealthCare Technologies Stock Performance

GEHC opened at $86.45 on Tuesday. The company has a market cap of $39.53 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 3.19 and a beta of 1.15. The company’s fifty day moving average price is $86.31 and its two-hundred day moving average price is $86.14. 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.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly 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 business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. On average, analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

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.