GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp raised its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,222 shares of the company’s stock after acquiring an additional 11,587 shares during the quarter. Cibc World Markets Corp’s holdings in GE HealthCare Technologies were worth $6,428,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GEHC. State Street Corp boosted its position in GE HealthCare Technologies by 7.8% in the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after buying an additional 1,347,114 shares during the period. Geode Capital Management LLC grew its stake in GE HealthCare Technologies by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after purchasing an additional 733,819 shares in the last quarter. Van ECK Associates Corp increased its holdings in 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 purchasing an additional 2,506,417 shares during the period. Bank of New York Mellon Corp raised its position in GE HealthCare Technologies by 11.2% in the 4th quarter. Bank of New York Mellon Corp now owns 3,476,586 shares of the company’s stock valued at $271,800,000 after purchasing an additional 349,539 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of GE HealthCare Technologies by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,959,256 shares of the company’s stock valued at $231,355,000 after buying an additional 248,318 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

GEHC stock opened at $82.14 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $37.56 billion, a P/E ratio of 18.97, a PEG ratio of 3.19 and a beta of 1.13. The business has a 50 day simple moving average of $87.25 and a 200-day simple moving average of $86.10. GE HealthCare Technologies Inc. has a twelve month low of $74.51 and a twelve month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. As a group, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GEHC shares. Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. The Goldman Sachs Group upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $100.00 in a research note on Tuesday, March 11th. Finally, Citigroup upped their price objective on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.75.

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.