GE HealthCare Technologies Inc. $GEHC Shares Sold by Cibc World Market Inc.

Key Points

• CIBC World Market reduced its GE HealthCare stake by 24.8% in the second quarter, selling 26,226 shares and retaining 79,329 shares valued at approximately $5.08 million. Institutional investors collectively own 82.06% of the company.
• GE HealthCare exceeded quarterly earnings expectations, reporting $1.13 in EPS versus the $1.04 consensus and $5.29 billion in revenue, up 5.8% year over year.
• Analyst sentiment remains cautious, with the stock carrying a consensus “Hold” rating and a $77.73 average price target. The company also pays a quarterly dividend of $0.035 per share, yielding about 0.2%.

Cibc World Market Inc. reduced its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 24.8% during the 2nd quarter, according to the company in its most recent 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 period. Cibc World Market Inc.'s holdings in GE HealthCare Technologies were worth $5,078,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GEHC. Laurel Wealth Advisors LLC purchased a new position in GE HealthCare Technologies during the fourth quarter worth approximately $26,000. Godfrey Financial Associates Inc. purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at $27,000. Montag A & Associates Inc. boosted its holdings in GE HealthCare Technologies by 105.4% in the fourth quarter. Montag A & Associates Inc. now owns 341 shares of the company's stock valued at $28,000 after acquiring an additional 175 shares during the last quarter. Transamerica Financial Advisors LLC grew its position in GE HealthCare Technologies by 331.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company's stock valued at $28,000 after acquiring an additional 262 shares during the period. Finally, Physician Wealth Advisors Inc. grew its position in GE HealthCare Technologies by 60.4% during the first quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company's stock valued at $31,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC opened at $73.91 on Wednesday. The business's 50-day simple moving average is $67.01 and its 200 day simple moving average is $69.43. The company has a market cap of $33.38 billion, a P/E ratio of 16.95, a PEG ratio of 2.14 and a beta of 0.69. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.09. The firm had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.26 billion. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.GE HealthCare Technologies's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 EPS. On average, 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 company also recently announced 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 is 3.21%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Weiss Ratings restated a "hold (c-)" rating on shares of GE HealthCare Technologies in a report on Wednesday, August 12th. Citigroup boosted their target price on GE HealthCare Technologies from $69.00 to $75.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. Hovde Group began coverage on shares of GE HealthCare Technologies in a research report on Friday, July 17th. They set a "market perform" rating and a $14.00 target price for the company. BNP Paribas Exane cut their price target on shares of GE HealthCare Technologies from $95.00 to $88.00 in a report on Friday, May 1st. Finally, Zacks Research raised shares of GE HealthCare Technologies from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Ten investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.

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