Maryland State Retirement & Pension System Sells 1,169 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Maryland State Retirement & Pension System lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,278 shares of the company’s stock after selling 1,169 shares during the period. Maryland State Retirement & Pension System’s holdings in GE HealthCare Technologies were worth $1,898,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Darwin Wealth Management LLC bought a new position in GE HealthCare Technologies in the 3rd quarter worth approximately $31,000. Continuum Advisory LLC raised its position in shares of GE HealthCare Technologies by 101.8% during the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock valued at $31,000 after acquiring an additional 168 shares during the last quarter. Bank of Jackson Hole Trust bought a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at $32,000. Flagship Wealth Advisors LLC bought a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at $34,000. Finally, OFI Invest Asset Management bought a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at $34,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on GEHC shares. The Goldman Sachs Group upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $100.00 in a research report on Tuesday, March 11th. Citigroup upped their target price on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $95.00 to $103.00 in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company boosted their price target on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average target price of $98.75.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $81.49 on Friday. The firm has a market cap of $37.27 billion, a PE ratio of 18.82, a PEG ratio of 3.19 and a beta of 1.13. 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 Inc. has a 1-year low of $74.51 and a 1-year high of $94.80. The company has a fifty day moving average price of $87.02 and a 200 day moving average price of $86.02.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. Research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share 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.