Corebridge Financial Inc. Sells 5,249 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Corebridge Financial Inc. reduced its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.6% during the 4th quarter, HoldingsChannel reports. The fund owned 141,959 shares of the company’s stock after selling 5,249 shares during the quarter. Corebridge Financial Inc.’s holdings in GE HealthCare Technologies were worth $11,098,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Continuum Advisory LLC lifted its holdings in shares of GE HealthCare Technologies by 101.8% in the third quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock valued at $31,000 after purchasing an additional 168 shares in the last quarter. Runnymede Capital Advisors Inc. bought a new stake in GE HealthCare Technologies in the 4th quarter valued at approximately $28,000. Bank of Jackson Hole Trust acquired a new position in GE HealthCare Technologies during the 4th quarter worth approximately $32,000. Flagship Wealth Advisors LLC bought a new position in shares of GE HealthCare Technologies during the 4th quarter worth approximately $34,000. Finally, OFI Invest Asset Management acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $34,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

GE HealthCare Technologies Stock Performance

GEHC opened at $81.00 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The company has a market capitalization of $37.04 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The business has a fifty day simple moving average of $86.86 and a 200 day simple moving average of $85.93. GE HealthCare Technologies Inc. has a 1 year low of $74.51 and a 1 year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.26 by $0.19. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. Research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

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.