CIBC Private Wealth Group LLC Sells 6,530 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

CIBC Private Wealth Group LLC decreased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 3.4% in the 4th quarter, according to its most recent Form 13F filing 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 quarter.

A number of other hedge funds also recently made changes to their positions in GEHC. Cathy Pareto & Associates Inc. purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter worth about $670,000. Principal Financial Group Inc. raised its holdings in GE HealthCare Technologies by 1.9% in the third 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 in the last quarter. Everence Capital Management Inc. boosted its stake in GE HealthCare Technologies by 118.2% during the 4th quarter. Everence Capital Management Inc. now owns 18,870 shares of the company's stock valued at $1,475,000 after acquiring an additional 10,220 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in GE HealthCare Technologies by 9.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 145,996 shares of the company's stock worth $13,702,000 after acquiring an additional 12,908 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in GE HealthCare Technologies by 46.5% during the 4th quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company's stock worth $1,025,000 after acquiring an additional 4,160 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup upped their price objective on 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 upgraded shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and raised their price target for the stock from $85.00 to $100.00 in a research report on Tuesday, March 11th. Wells Fargo & Company increased 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 note on Friday, February 14th. Finally, Jefferies Financial Group upgraded 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 note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $97.73.

GE HealthCare Technologies Price Performance

NASDAQ:GEHC traded down $11.49 during trading hours on Friday, reaching $60.51. 16,885,304 shares of the company's stock were exchanged, compared to its average volume of 3,023,599. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $27.67 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. GE HealthCare Technologies Inc. has a 12 month low of $58.04 and a 12 month high of $94.80. The business's 50-day simple moving average is $85.41 and its two-hundred day simple moving average is $85.43.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results 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 business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. Sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is 3.23%.

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.