Raymond James Financial Inc. Buys Shares of 939,785 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Raymond James Financial Inc. bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 4th quarter, HoldingsChannel reports. The fund bought 939,785 shares of the company’s stock, valued at approximately $73,472,000.

A number of other hedge funds also recently made changes to their positions in the stock. Cullen Frost Bankers Inc. boosted its stake in shares of GE HealthCare Technologies by 55.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 13,714 shares of the company’s stock valued at $1,072,000 after purchasing an additional 4,908 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of GE HealthCare Technologies by 4.5% in the 4th quarter. Arizona State Retirement System now owns 129,811 shares of the company’s stock valued at $10,149,000 after purchasing an additional 5,610 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of GE HealthCare Technologies by 13.1% in the 4th quarter. Verdence Capital Advisors LLC now owns 4,149 shares of the company’s stock valued at $324,000 after purchasing an additional 480 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at approximately $7,775,000. Finally, Atria Investments Inc boosted its stake in shares of GE HealthCare Technologies by 6.9% in the 4th quarter. Atria Investments Inc now owns 12,644 shares of the company’s stock valued at $988,000 after purchasing an additional 811 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GEHC shares. Wells Fargo & Company raised 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 note on Friday, February 14th. Jefferies Financial Group upgraded 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 research report on Wednesday, January 8th. Finally, Citigroup lifted their target price on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One equities research 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $97.67.

GE HealthCare Technologies Stock Up 1.4 %

Shares of NASDAQ GEHC opened at $86.58 on Monday. The company has a market capitalization of $39.59 billion, a P/E ratio of 20.00, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The company’s 50 day moving average price is $86.77 and its 200-day moving average price is $86.16.

GE HealthCare Technologies (NASDAQ:GEHC) last issued 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 the consensus estimate of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. Equities analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share 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.