Proficio Capital Partners LLC Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Proficio Capital Partners LLC acquired a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 99,454 shares of the company’s stock, valued at approximately $7,775,000.

A number of other institutional investors have also made changes to their positions in the stock. Darwin Wealth Management LLC bought a new stake in GE HealthCare Technologies during the third quarter worth approximately $31,000. Continuum Advisory LLC boosted its holdings in shares of GE HealthCare Technologies by 101.8% during the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock worth $31,000 after buying an additional 168 shares during the period. Bank of Jackson Hole Trust acquired a new position in GE HealthCare Technologies in the 4th quarter valued at $32,000. Avion Wealth raised its holdings in GE HealthCare Technologies by 497.4% in the 4th quarter. Avion Wealth now owns 460 shares of the company’s stock worth $35,000 after acquiring an additional 383 shares during the period. Finally, Synergy Asset Management LLC acquired a new position in GE HealthCare Technologies during the 4th quarter worth $39,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GEHC. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $95.00 to $103.00 in a research report on Wednesday, January 8th. Citigroup raised their target price on GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Wells Fargo & Company upped their price target 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, The Goldman Sachs Group raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $100.00 in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.75.

GE HealthCare Technologies Price Performance

NASDAQ:GEHC opened at $81.97 on Friday. The company has a market capitalization of $37.48 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 3.19 and a beta of 1.13. The company has a 50-day moving average of $87.26 and a 200-day moving average of $86.12. GE HealthCare Technologies Inc. has a 52 week low of $74.51 and a 52 week high of $94.80. 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 released 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 return on equity of 25.74% and a net margin of 10.13%. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.33 billion. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal 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.