Teacher Retirement System of Texas Acquires 70,300 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Teacher Retirement System of Texas grew its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 167.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 112,203 shares of the company’s stock after acquiring an additional 70,300 shares during the period. Teacher Retirement System of Texas’ holdings in GE HealthCare Technologies were worth $8,772,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Sandy Spring Bank raised its position in GE HealthCare Technologies by 13.2% in the fourth quarter. Sandy Spring Bank now owns 1,175 shares of the company’s stock worth $92,000 after acquiring an additional 137 shares during the period. Royal London Asset Management Ltd. raised its position in GE HealthCare Technologies by 8.8% in the fourth quarter. Royal London Asset Management Ltd. now owns 192,026 shares of the company’s stock worth $15,013,000 after acquiring an additional 15,589 shares during the period. Generali Investments Management Co LLC bought a new position in GE HealthCare Technologies in the fourth quarter worth approximately $368,000. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at $362,000. Finally, Xponance Inc. raised its position in shares of GE HealthCare Technologies by 8.4% during the 4th quarter. Xponance Inc. now owns 68,810 shares of the company’s stock valued at $5,380,000 after purchasing an additional 5,346 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $81.49 on Friday. GE HealthCare Technologies Inc. has a 52-week low of $74.51 and a 52-week high of $94.80. The company has a market cap of $37.27 billion, a P/E ratio of 18.82, a P/E/G ratio of 3.19 and a beta of 1.13. The firm’s fifty day moving average is $87.02 and its two-hundred day moving average is $86.03. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.33 billion. As a group, analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies 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.