Beech Hill Advisors Inc. Acquires 817 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Beech Hill Advisors Inc. raised its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,741 shares of the company’s stock after purchasing an additional 817 shares during the quarter. GE HealthCare Technologies comprises 1.9% of Beech Hill Advisors Inc.’s holdings, making the stock its 15th biggest position. Beech Hill Advisors Inc.’s holdings in GE HealthCare Technologies were worth $4,522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of GEHC. Vanguard Group Inc. boosted its holdings in GE HealthCare Technologies by 14.7% during the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after buying an additional 5,693,244 shares in the last quarter. Norges Bank acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at about $229,052,000. Capital Research Global Investors increased its position in GE HealthCare Technologies by 2.8% during the fourth quarter. Capital Research Global Investors now owns 51,344,719 shares of the company’s stock worth $3,969,975,000 after purchasing an additional 1,401,566 shares during the last quarter. Ameriprise Financial Inc. increased its position in GE HealthCare Technologies by 84.4% during the third quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock worth $181,578,000 after purchasing an additional 1,221,436 shares during the last quarter. Finally, Perpetual Ltd acquired a new stake in GE HealthCare Technologies during the first quarter worth about $96,135,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

GEHC has been the subject of several research analyst reports. Evercore ISI increased their target price on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Mizuho cut their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group began coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective on the stock. Bank of America cut their target price on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Citigroup lifted their price objective on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.09.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $78.81 on Wednesday. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83. The business’s fifty day moving average price is $80.25 and its 200 day moving average price is $81.73. The stock has a market capitalization of $35.97 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 2.84 and a beta of 1.22.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, meeting analysts’ consensus estimates of $0.90. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.27 EPS for the current year.

Insider Activity at GE HealthCare Technologies

In related news, CTO Taha Kass-Hout sold 3,300 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the completion of the transaction, the chief technology officer now owns 67,300 shares in the company, valued at approximately $5,296,510. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jan Makela sold 66,955 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total value of $5,459,510.70. Following the completion of the sale, the chief executive officer now directly owns 63,348 shares in the company, valued at approximately $5,165,395.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Taha Kass-Hout sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the completion of the sale, the chief technology officer now owns 67,300 shares of the company’s stock, valued at $5,296,510. The disclosure for this sale can be found here. Insiders sold 90,482 shares of company stock worth $7,369,137 in the last quarter. 0.27% of the stock is owned by company insiders.

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.