TD Waterhouse Canada Inc. Cuts Position in GE HealthCare Technologies Inc. $GEHC

TD Waterhouse Canada Inc. decreased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 26.6% during the third quarter, HoldingsChannel.com reports. The fund owned 368,982 shares of the company’s stock after selling 133,663 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in GE HealthCare Technologies were worth $27,883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in GE HealthCare Technologies by 11.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 178,382 shares of the company’s stock valued at $13,396,000 after purchasing an additional 18,500 shares in the last quarter. Retirement Planning Co of New England Inc. raised its position in shares of GE HealthCare Technologies by 9.8% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 4,298 shares of the company’s stock valued at $323,000 after buying an additional 383 shares in the last quarter. Federated Hermes Inc. raised its position in shares of GE HealthCare Technologies by 323.2% during the 3rd quarter. Federated Hermes Inc. now owns 1,951 shares of the company’s stock valued at $147,000 after buying an additional 1,490 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of GE HealthCare Technologies by 0.8% in the 3rd quarter. Truist Financial Corp now owns 76,899 shares of the company’s stock valued at $5,775,000 after acquiring an additional 625 shares during the last quarter. Finally, Phoenix Financial Ltd. purchased a new position in GE HealthCare Technologies in the third quarter worth about $228,000. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GEHC shares. BTIG Research restated a “buy” rating and set a $87.00 price objective on shares of GE HealthCare Technologies in a research report on Friday, November 21st. Citigroup boosted their price objective on shares of GE HealthCare Technologies from $83.00 to $88.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and upped their price target for the company from $73.00 to $77.00 in a report on Thursday, January 15th. Jefferies Financial Group boosted their price objective on GE HealthCare Technologies from $95.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Wells Fargo & Company lowered their target price on GE HealthCare Technologies from $89.00 to $87.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $89.83.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $79.26 on Thursday. The company has a market cap of $36.10 billion, a PE ratio of 16.38, a P/E/G ratio of 2.43 and a beta of 1.08. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.95 and a current ratio of 1.18. The business has a 50-day simple moving average of $82.50 and a two-hundred day simple moving average of $77.31.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.02. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.07 billion. GE HealthCare Technologies had a return on equity of 22.52% and a net margin of 10.94%.The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $1.14 earnings per share. As a group, equities analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 9th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, January 9th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 2.89%.

GE HealthCare Technologies Company 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.