Westchester Capital Management Inc. Trims Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Westchester Capital Management Inc. lowered its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,657 shares of the company’s stock after selling 121 shares during the quarter. Westchester Capital Management Inc.’s holdings in GE HealthCare Technologies were worth $364,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mesirow Financial Investment Management Inc. grew its stake in GE HealthCare Technologies by 39.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock worth $383,000 after purchasing an additional 1,159 shares in the last quarter. Cathy Pareto & Associates Inc. purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at $670,000. LMR Partners LLP purchased a new stake in shares of GE HealthCare Technologies during the 3rd quarter valued at $7,387,000. Principal Financial Group Inc. lifted its holdings in shares of GE HealthCare Technologies by 1.9% during the 3rd 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 last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in GE HealthCare Technologies in the 3rd quarter worth $1,396,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $85.59 on Wednesday. The company has a fifty day simple moving average of $87.06 and a two-hundred day simple moving average of $86.17. The company has a market cap of $39.14 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a 52 week low of $74.51 and a 52 week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.26 by $0.19. The business had revenue of $5.32 billion during 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%. As a group, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wells Fargo & Company raised their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. The Goldman Sachs Group upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $100.00 in a research report on Tuesday. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, Citigroup lifted their price target 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.75.

GE HealthCare Technologies Company 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.