Burkehill Global Management LP Invests $23.45 Million in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Burkehill Global Management LP acquired a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 300,000 shares of the company’s stock, valued at approximately $23,454,000. GE HealthCare Technologies accounts for approximately 2.2% of Burkehill Global Management LP’s investment portfolio, making the stock its 12th biggest holding. Burkehill Global Management LP owned 0.07% of GE HealthCare Technologies as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GEHC. Cherry Creek Investment Advisors Inc. boosted its position in shares of GE HealthCare Technologies by 0.3% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock valued at $2,920,000 after acquiring an additional 114 shares during the last quarter. Independence Bank of Kentucky raised its stake in GE HealthCare Technologies by 6.0% in the fourth quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock valued at $158,000 after purchasing an additional 114 shares in the last quarter. Tandem Capital Management Corp ADV lifted its position in GE HealthCare Technologies by 0.4% during the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock valued at $2,205,000 after purchasing an additional 118 shares during the last quarter. Arcus Capital Partners LLC raised its position in shares of GE HealthCare Technologies by 3.0% during the 4th quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock valued at $322,000 after buying an additional 119 shares in the last quarter. Finally, Custom Index Systems LLC raised its position in shares of GE HealthCare Technologies by 4.4% during the 4th quarter. Custom Index Systems LLC now owns 2,843 shares of the company’s stock valued at $222,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

GEHC has been the topic of a number of research analyst reports. The Goldman Sachs Group raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $100.00 in a research note on Tuesday. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $95.00 to $103.00 in a research report on Wednesday, January 8th. Citigroup increased their target price on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company lifted their price target 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus price target of $98.75.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $83.79 on Thursday. GE HealthCare Technologies Inc. has a fifty-two week low of $74.51 and a fifty-two week high of $94.80. The stock’s 50 day simple moving average is $87.17 and its two-hundred day simple moving average is $86.16. 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 stock has a market cap of $38.32 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 3.19 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating 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 return on equity of 25.74% and a net margin of 10.13%. As a group, analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal 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.