GE HealthCare Technologies Inc. $GEHC Stock Position Reduced by Cibc World Market Inc.

Cibc World Market Inc. lessened its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 24.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,329 shares of the company’s stock after selling 26,226 shares during the quarter. Cibc World Market Inc.’s holdings in GE HealthCare Technologies were worth $5,078,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GEHC. Laurel Wealth Advisors LLC bought a new position in shares of GE HealthCare Technologies during the fourth quarter worth about $26,000. Godfrey Financial Associates Inc. acquired a new position in GE HealthCare Technologies during the 4th quarter valued at about $27,000. Montag A & Associates Inc. boosted its stake in GE HealthCare Technologies by 105.4% during the 4th quarter. Montag A & Associates Inc. now owns 341 shares of the company’s stock valued at $28,000 after purchasing an additional 175 shares during the period. Transamerica Financial Advisors LLC grew its position in GE HealthCare Technologies by 331.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company’s stock worth $28,000 after purchasing an additional 262 shares during the last quarter. Finally, MV Capital Management Inc. bought a new position in GE HealthCare Technologies in the 4th quarter worth about $33,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Down 0.4%

GE HealthCare Technologies stock opened at $73.91 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. GE HealthCare Technologies Inc. has a 1-year low of $58.75 and a 1-year high of $89.77. The firm’s fifty day simple moving average is $67.01 and its 200-day simple moving average is $69.43. The company has a market capitalization of $33.38 billion, a P/E ratio of 16.95, a P/E/G ratio of 2.14 and a beta of 0.69.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.06 EPS. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 24th were paid a $0.035 dividend. The ex-dividend date was Friday, July 24th. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.21%.

Wall Street Analyst Weigh In

Several analysts recently commented on GEHC shares. Stifel Nicolaus set a $80.00 target price on GE HealthCare Technologies in a research report on Wednesday, April 29th. BMO Capital Markets started coverage on GE HealthCare Technologies in a research report on Wednesday, July 8th. They set a “market perform” rating and a $70.00 price target for the company. Wells Fargo & Company increased their price target on GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Evercore reissued an “outperform” rating and set a $84.00 price target on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Finally, Piper Sandler restated a “buy” rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Hold” and a consensus target price of $77.73.

GE HealthCare Technologies Profile

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.