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

CIBC Private Wealth Group LLC trimmed its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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.

Several other institutional investors have also recently made changes to their positions in the stock. Cathy Pareto & Associates Inc. bought a new position in shares of GE HealthCare Technologies in the fourth quarter valued at $670,000. Principal Financial Group Inc. grew its position in shares of GE HealthCare Technologies by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after acquiring an additional 19,010 shares during the period. Everence Capital Management Inc. increased its stake in shares of GE HealthCare Technologies by 118.2% during the 4th quarter. Everence Capital Management Inc. now owns 18,870 shares of the company’s stock worth $1,475,000 after purchasing an additional 10,220 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in GE HealthCare Technologies by 9.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 145,996 shares of the company’s stock valued at $13,702,000 after purchasing an additional 12,908 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in GE HealthCare Technologies by 46.5% during the fourth quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company’s stock worth $1,025,000 after purchasing an additional 4,160 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC opened at $80.71 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.04 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. The company’s 50 day moving average price is $86.62 and its two-hundred day moving average price is $85.81. The firm has a market cap of $36.91 billion, a PE ratio of 18.64, a PEG ratio of 3.19 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates 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 Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 0.17%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio is currently 3.23%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GEHC. The Goldman Sachs Group upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $100.00 in a research note on Tuesday, March 11th. 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 report on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, Citigroup increased their price objective on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average target price of $98.75.

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.