CIBC Asset Management Inc Purchases 5,009 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

CIBC Asset Management Inc lifted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 146,218 shares of the company’s stock after acquiring an additional 5,009 shares during the quarter. CIBC Asset Management Inc’s holdings in GE HealthCare Technologies were worth $11,431,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GEHC. D1 Capital Partners L.P. bought a new position in shares of GE HealthCare Technologies during the 3rd quarter worth $268,159,000. Van ECK Associates Corp grew its stake in shares of GE HealthCare Technologies by 107.3% during the 4th quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock worth $378,520,000 after acquiring an additional 2,506,417 shares during the period. State Street Corp grew its stake in shares of GE HealthCare Technologies by 7.8% during the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after acquiring an additional 1,347,114 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of GE HealthCare Technologies during the 3rd quarter worth $93,713,000. Finally, Jennison Associates LLC grew its stake in shares of GE HealthCare Technologies by 124.5% during the 4th quarter. Jennison Associates LLC now owns 1,709,635 shares of the company’s stock worth $133,659,000 after acquiring an additional 948,017 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on GEHC. Wells Fargo & Company raised their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. Finally, Citigroup raised their target price on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average target price of $97.67.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $92.67 on Wednesday. The business’s 50-day moving average price is $84.45 and its two-hundred day moving average price is $85.67. GE HealthCare Technologies Inc. has a twelve month low of $74.51 and a twelve month high of $94.80. The stock has a market cap of $42.34 billion, a P/E ratio of 25.46, a PEG ratio of 2.93 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.33 billion. As a group, equities analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, January 14th were issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.15%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.23%.

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.