State of Michigan Retirement System Purchases 149,600 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

State of Michigan Retirement System lifted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 46.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 473,953 shares of the company’s stock after purchasing an additional 149,600 shares during the quarter. State of Michigan Retirement System owned about 0.10% of GE HealthCare Technologies worth $37,054,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cherry Creek Investment Advisors Inc. lifted its position in GE HealthCare Technologies by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock valued at $2,920,000 after buying an additional 114 shares during the period. Independence Bank of Kentucky lifted its position in 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 acquiring an additional 114 shares during the period. Tandem Capital Management Corp ADV lifted its position in GE HealthCare Technologies by 0.4% during the 4th quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock valued at $2,205,000 after acquiring an additional 118 shares during the period. Arcus Capital Partners LLC boosted 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 in the last quarter. Finally, Custom Index Systems LLC grew its holdings in GE HealthCare Technologies by 4.4% in the fourth quarter. Custom Index Systems LLC now owns 2,843 shares of the company’s stock worth $222,000 after purchasing an additional 120 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GEHC has been the topic of a number of analyst reports. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. Wells Fargo & Company boosted their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Citigroup increased their target price 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, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.67.

GE HealthCare Technologies Price Performance

GEHC opened at $86.45 on Tuesday. The company’s 50-day simple moving average is $86.31 and its two-hundred day simple moving average is $86.14. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The stock has a market capitalization of $39.53 billion, a P/E ratio of 19.97, a P/E/G ratio of 3.19 and a beta of 1.15. GE HealthCare Technologies Inc. has a 52-week low of $74.51 and a 52-week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share 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 company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.33 billion. As a group, analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current 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.