CIBC Private Wealth Group LLC Has $15.99 Million Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

CIBC Private Wealth Group LLC cut its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 185,308 shares of the company’s stock after selling 6,530 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in GE HealthCare Technologies were worth $15,985,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GEHC. Vanguard Group Inc. boosted its stake in shares of GE HealthCare Technologies by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after purchasing an additional 2,155,429 shares in the last quarter. State Street Corp boosted its position in GE HealthCare Technologies by 7.8% in the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after buying an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of GE HealthCare Technologies by 7.2% during the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after buying an additional 733,819 shares during the last quarter. Norges Bank acquired a new position in shares of GE HealthCare Technologies during the fourth quarter worth $488,531,000. Finally, Van ECK Associates Corp lifted its stake in shares of GE HealthCare Technologies by 107.3% in the 4th quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock valued at $378,520,000 after acquiring an additional 2,506,417 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

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

GE HealthCare Technologies Stock Up 0.9 %

Shares of NASDAQ:GEHC opened at $80.71 on Tuesday. GE HealthCare Technologies Inc. has a 1 year low of $74.51 and a 1 year high of $94.80. 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 business’s 50-day moving average is $86.62 and its 200-day moving average is $85.81. The company has a market capitalization of $36.91 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 3.19 and a beta of 1.13.

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

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s payout ratio is 3.23%.

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.