Cibc World Market Inc. Sells 19,619 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• CIBC World Market Inc. reduced its GE HealthCare Technologies stake by 31.9% in the fourth quarter, selling 19,619 shares and leaving it with 41,824 shares worth about $3.43 million.
• Several analysts cut price targets on GEHC, and the stock now carries a consensus rating of “Moderate Buy” with an average target price of about $80.21.
• Despite a recent earnings miss, GE HealthCare reported 7.4% revenue growth to $5.13 billion, and insiders have been buying shares, including CEO Peter Arduini and Director Rodney Hochman.

Cibc World Market Inc. lowered its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 31.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,824 shares of the company's stock after selling 19,619 shares during the period. Cibc World Market Inc.'s holdings in GE HealthCare Technologies were worth $3,430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Sound Shore Management Inc. CT grew its position in GE HealthCare Technologies by 3.8% in the fourth quarter. Sound Shore Management Inc. CT now owns 1,017,888 shares of the company's stock valued at $83,487,000 after purchasing an additional 37,132 shares in the last quarter. CIBC Asset Management Inc lifted its stake in GE HealthCare Technologies by 35.5% in the fourth quarter. CIBC Asset Management Inc now owns 190,238 shares of the company's stock valued at $15,603,000 after acquiring an additional 49,815 shares during the last quarter. Natixis Advisors LLC lifted its stake in GE HealthCare Technologies by 2.9% in the fourth quarter. Natixis Advisors LLC now owns 585,204 shares of the company's stock valued at $47,999,000 after acquiring an additional 16,723 shares during the last quarter. Strategic Advisors LLC lifted its stake in GE HealthCare Technologies by 13.3% in the fourth quarter. Strategic Advisors LLC now owns 19,857 shares of the company's stock valued at $1,629,000 after acquiring an additional 2,333 shares during the last quarter. Finally, Spinnaker Trust lifted its stake in GE HealthCare Technologies by 1.4% in the fourth quarter. Spinnaker Trust now owns 46,010 shares of the company's stock valued at $3,774,000 after acquiring an additional 624 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Rothschild & Co Redburn cut their price target on shares of GE HealthCare Technologies from $110.00 to $98.00 in a research note on Thursday, April 30th. Evercore set a $80.00 price target on shares of GE HealthCare Technologies in a research note on Thursday, April 30th. Piper Sandler cut their price target on shares of GE HealthCare Technologies from $88.00 to $74.00 in a research note on Thursday, April 30th. Jefferies Financial Group cut their target price on shares of GE HealthCare Technologies from $105.00 to $90.00 in a research note on Thursday, April 30th. Finally, Citigroup cut their target price on shares of GE HealthCare Technologies from $80.00 to $65.00 and set a "neutral" rating for the company in a research note on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $80.21.

Insider Transactions at GE HealthCare Technologies

In other GE HealthCare Technologies news, Director Rodney F. Hochman bought 1,618 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average cost of $62.03 per share, for a total transaction of $100,364.54. Following the transaction, the director directly owned 1,618 shares in the company, valued at approximately $100,364.54. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter J. Arduini purchased 4,169 shares of the company's stock in a transaction dated Thursday, April 30th. The stock was purchased at an average price of $59.92 per share, for a total transaction of $249,806.48. Following the transaction, the chief executive officer directly owned 259,424 shares in the company, valued at approximately $15,544,686.08. This trade represents a 1.63% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 21,847 shares of company stock worth $1,361,355. Corporate insiders own 0.36% of the company's stock.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock opened at $64.67 on Tuesday. GE HealthCare Technologies Inc. has a twelve month low of $58.75 and a twelve month high of $89.77. The company has a quick ratio of 0.95, a current ratio of 1.22 and a debt-to-equity ratio of 0.95. The company has a 50-day simple moving average of $66.75 and a two-hundred day simple moving average of $75.48. The stock has a market capitalization of $29.42 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.46 and a beta of 0.74.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.08). GE HealthCare Technologies had a return on equity of 20.46% and a net margin of 9.10%.The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same quarter last year, the firm earned $1.01 EPS. GE HealthCare Technologies's revenue for the quarter was up 7.4% compared to the same quarter last year. GE HealthCare Technologies has set its FY 2026 guidance at 4.800-5.000 EPS. Analysts forecast that GE HealthCare Technologies Inc. will post 4.89 EPS for the current year.

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.

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