Parallel Advisors LLC Acquires 135 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Parallel Advisors LLC boosted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,135 shares of the company’s stock after purchasing an additional 135 shares during the period. Parallel Advisors LLC’s holdings in GE HealthCare Technologies were worth $558,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEHC. D1 Capital Partners L.P. bought a new position in shares of GE HealthCare Technologies in the third quarter valued at approximately $268,159,000. Van ECK Associates Corp raised its stake in shares of GE HealthCare Technologies by 107.3% in the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock valued at $378,520,000 after acquiring an additional 2,506,417 shares during the last quarter. State Street Corp raised its stake in shares of GE HealthCare Technologies by 7.8% in the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after acquiring an additional 1,347,114 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of GE HealthCare Technologies in the third quarter valued at approximately $93,713,000. Finally, Jennison Associates LLC raised its stake in shares of GE HealthCare Technologies by 124.5% in the fourth quarter. Jennison Associates LLC now owns 1,709,635 shares of the company’s stock valued at $133,659,000 after acquiring an additional 948,017 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of research analyst reports. Citigroup lifted 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 note on Thursday, February 13th. Wells Fargo & Company lifted their target price 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 company from $95.00 to $103.00 in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $100.00 in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.75.

GE HealthCare Technologies Price Performance

Shares of GEHC stock opened at $81.81 on Friday. GE HealthCare Technologies Inc. has a 12-month low of $74.51 and a 12-month high of $94.80. The firm has a market capitalization of $37.41 billion, a price-to-earnings ratio of 18.89, 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. The firm has a fifty day moving average of $87.08 and a 200-day moving average of $86.05.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. On average, equities research 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.