Bank of Nova Scotia trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 28.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,759 shares of the company's stock after selling 18,756 shares during the quarter. Bank of Nova Scotia's holdings in GE HealthCare Technologies were worth $3,399,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in GEHC. Western Wealth Management LLC grew its holdings in shares of GE HealthCare Technologies by 2.4% during the fourth quarter. Western Wealth Management LLC now owns 5,240 shares of the company's stock worth $430,000 after purchasing an additional 125 shares in the last quarter. United Community Bank lifted its position in GE HealthCare Technologies by 10.2% during the fourth quarter. United Community Bank now owns 1,410 shares of the company's stock valued at $116,000 after purchasing an additional 130 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in GE HealthCare Technologies by 3.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,567 shares of the company's stock worth $293,000 after buying an additional 134 shares in the last quarter. Quadrant Capital Group LLC grew its stake in GE HealthCare Technologies by 1.1% in the 4th quarter. Quadrant Capital Group LLC now owns 12,557 shares of the company's stock worth $1,030,000 after buying an additional 140 shares in the last quarter. Finally, Mount Vernon Associates Inc. MD increased its holdings in shares of GE HealthCare Technologies by 0.8% in the 1st quarter. Mount Vernon Associates Inc. MD now owns 18,165 shares of the company's stock worth $1,293,000 after buying an additional 144 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.
GE HealthCare Technologies Trading Up 4.9%
Shares of GEHC opened at $64.11 on Wednesday. GE HealthCare Technologies Inc. has a fifty-two week low of $58.75 and a fifty-two week high of $89.77. The firm has a market cap of $29.16 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.66 and a beta of 0.72. The firm has a 50 day moving average price of $63.68 and a 200-day moving average price of $70.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 1.22.
GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.08). The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.04 billion. GE HealthCare Technologies had a net margin of 9.10% and a return on equity of 20.46%. GE HealthCare Technologies's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 EPS. As a group, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.89 earnings per share for the current year.
GE HealthCare Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 24th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, July 24th. GE HealthCare Technologies's dividend payout ratio (DPR) is 3.35%.
Insider Transactions at GE HealthCare Technologies
In related news, CEO Peter J. Arduini purchased 4,169 shares of GE HealthCare Technologies stock in a transaction that occurred on Thursday, April 30th. The shares were acquired at an average cost 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 $15,544,686.08. The trade was a 1.63% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Saccaro purchased 3,310 shares of the firm's stock in a transaction on Friday, May 1st. The stock was bought at an average cost of $60.60 per share, for a total transaction of $200,586.00. Following the completion of the purchase, the chief financial officer directly owned 87,471 shares in the company, valued at approximately $5,300,742.60. This trade represents a 3.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 21,847 shares of company stock valued at $1,361,355. 0.36% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
GEHC has been the topic of several research reports. UBS Group lowered their price objective on shares of GE HealthCare Technologies from $69.00 to $67.00 and set a "neutral" rating on the stock in a research report on Thursday, July 16th. Jefferies Financial Group cut their target price on shares of GE HealthCare Technologies from $105.00 to $90.00 in a research report on Thursday, April 30th. Stifel Nicolaus set a $80.00 target price on GE HealthCare Technologies in a research note on Wednesday, April 29th. Rothschild & Co Redburn lowered their price target on GE HealthCare Technologies from $110.00 to $98.00 in a research report on Thursday, April 30th. Finally, Argus dropped their price target on GE HealthCare Technologies from $95.00 to $80.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $76.41.
View Our Latest Stock Analysis on GEHC
About GE HealthCare Technologies
(
Free Report)
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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