CIBC Asset Management Inc Has $13.25 Million Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

CIBC Asset Management Inc raised its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 141,209 shares of the company’s stock after acquiring an additional 10,974 shares during the quarter. CIBC Asset Management Inc’s holdings in GE HealthCare Technologies were worth $13,252,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Pathway Financial Advisers LLC bought a new position in shares of GE HealthCare Technologies in the first quarter valued at about $25,000. LGT Financial Advisors LLC lifted its holdings in GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after purchasing an additional 251 shares during the last quarter. Fred Alger Management LLC bought a new position in GE HealthCare Technologies during the 2nd quarter worth $26,000. Capital Performance Advisors LLP bought a new stake in shares of GE HealthCare Technologies in the third quarter valued at about $26,000. Finally, Ashton Thomas Securities LLC bought a new position in GE HealthCare Technologies during the third quarter worth about $26,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Wednesday, September 18th. Stifel Nicolaus upped their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Evercore ISI lifted their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.36.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $81.76 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. GE HealthCare Technologies Inc. has a 1 year low of $66.39 and a 1 year high of $94.55. The company’s 50-day moving average is $88.70 and its 200 day moving average is $83.48. The stock has a market capitalization of $37.35 billion, a P/E ratio of 22.46, a P/E/G ratio of 3.02 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period last year, the company posted $0.99 EPS. GE HealthCare Technologies’s revenue was up .9% on a year-over-year basis. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.30%.

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.