Machina Capital S.A.S. Takes Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Machina Capital S.A.S. bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 4th quarter, HoldingsChannel reports. The fund bought 9,787 shares of the company’s stock, valued at approximately $765,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GEHC. Janney Montgomery Scott LLC purchased a new stake in shares of GE HealthCare Technologies in the third quarter valued at about $4,367,000. QRG Capital Management Inc. boosted its holdings in shares of GE HealthCare Technologies by 7.3% in the third quarter. QRG Capital Management Inc. now owns 7,128 shares of the company’s stock valued at $669,000 after acquiring an additional 485 shares in the last quarter. M&G PLC lifted its stake in shares of GE HealthCare Technologies by 4.6% in the third quarter. M&G PLC now owns 83,095 shares of the company’s stock valued at $7,811,000 after purchasing an additional 3,673 shares during the period. Graypoint LLC lifted its stake in shares of GE HealthCare Technologies by 6.3% in the third quarter. Graypoint LLC now owns 2,768 shares of the company’s stock valued at $260,000 after purchasing an additional 164 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of GE HealthCare Technologies by 1.9% in the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after purchasing an additional 19,010 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on GEHC shares. Citigroup raised their price objective on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company raised their price objective on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.67.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $86.58 on Friday. 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 stock has a market cap of $39.59 billion, a P/E ratio of 20.00, a PEG ratio of 3.19 and a beta of 1.13. The company has a 50-day moving average of $86.77 and a two-hundred day moving average of $86.15. GE HealthCare Technologies Inc. has a 12-month low of $74.51 and a 12-month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its 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 company had revenue of $5.32 billion during 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%. As a group, research analysts predict 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.