Avantax Advisory Services Inc. Grows Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Avantax Advisory Services Inc. boosted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 19.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,621 shares of the company’s stock after buying an additional 1,871 shares during the period. Avantax Advisory Services Inc.’s holdings in GE HealthCare Technologies were worth $909,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions 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 position in shares of GE HealthCare Technologies by 6.0% during the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock valued at $158,000 after buying an additional 114 shares during the period. Tandem Capital Management Corp ADV grew its position in GE HealthCare Technologies by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock worth $2,205,000 after acquiring an additional 118 shares during the period. Arcus Capital Partners LLC increased its stake in GE HealthCare Technologies by 3.0% during the fourth quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock worth $322,000 after acquiring an additional 119 shares during the last quarter. Finally, Custom Index Systems LLC lifted its stake in shares of GE HealthCare Technologies by 4.4% in the 4th quarter. Custom Index Systems LLC now owns 2,843 shares of the company’s stock valued at $222,000 after purchasing an additional 120 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

GE HealthCare Technologies Stock 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 company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The company has a market cap of $37.41 billion, a P/E ratio of 18.89, a PEG ratio of 3.19 and a beta of 1.13. The firm has a fifty day moving average price of $87.08 and a 200 day moving average price 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 analysts’ consensus estimates of $1.26 by $0.19. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. Sell-side analysts predict 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.