Mystic Asset Management Inc. Increases Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Mystic Asset Management Inc. lifted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,107 shares of the company’s stock after purchasing an additional 605 shares during the period. Mystic Asset Management Inc.’s holdings in GE HealthCare Technologies were worth $556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its stake in shares of GE HealthCare Technologies by 7.8% in the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after purchasing an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of GE HealthCare Technologies by 7.2% in the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after purchasing an additional 733,819 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of GE HealthCare Technologies by 107.3% in the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock worth $378,520,000 after purchasing an additional 2,506,417 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of GE HealthCare Technologies by 11.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,476,586 shares of the company’s stock worth $271,800,000 after purchasing an additional 349,539 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in GE HealthCare Technologies by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,959,256 shares of the company’s stock valued at $231,355,000 after acquiring an additional 248,318 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup raised their target price on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. The Goldman Sachs Group raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $100.00 in a research note on Tuesday, March 11th. Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.75.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $82.14 on Wednesday. The firm has a 50-day moving average price of $87.25 and a 200-day moving average price of $86.10. The firm has a market capitalization of $37.56 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. 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 released its earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.19. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. As a group, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current 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.