KLP Kapitalforvaltning AS Acquires New Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

KLP Kapitalforvaltning AS purchased a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 154,479 shares of the company’s stock, valued at approximately $12,077,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Continuum Advisory LLC grew its stake in shares of GE HealthCare Technologies by 101.8% in the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock worth $31,000 after purchasing an additional 168 shares during the last quarter. Runnymede Capital Advisors Inc. purchased a new position in shares of GE HealthCare Technologies in the fourth quarter worth approximately $28,000. Bank of Jackson Hole Trust purchased a new position in shares of GE HealthCare Technologies in the fourth quarter worth approximately $32,000. Flagship Wealth Advisors LLC purchased a new position in shares of GE HealthCare Technologies in the fourth quarter worth approximately $34,000. Finally, OFI Invest Asset Management purchased a new position in shares of GE HealthCare Technologies in the fourth quarter worth approximately $34,000. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Price Performance

NASDAQ GEHC opened at $81.49 on Monday. 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 stock has a market capitalization of $37.27 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The company has a 50 day moving average price of $87.02 and a two-hundred day moving average price of $86.02. GE HealthCare Technologies Inc. has a 12-month low of $74.51 and a 12-month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its 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. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.33 billion. As a group, equities analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on GEHC shares. The Goldman Sachs Group upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $100.00 in a report on Tuesday, March 11th. Citigroup raised their price target on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their price target for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, Wells Fargo & Company raised their price target on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. One research 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 stock. Based on data from MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $98.75.

GE HealthCare Technologies Company 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.