Bank of Nova Scotia Purchases 19,422 Shares of GE HealthCare Technologies Inc. $GEHC

Bank of Nova Scotia increased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 40.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,181 shares of the company's stock after acquiring an additional 19,422 shares during the period. Bank of Nova Scotia's holdings in GE HealthCare Technologies were worth $4,300,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Auto Owners Insurance Co lifted its holdings in GE HealthCare Technologies by 9,525.4% in the 4th quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company's stock valued at $278,725,000 after purchasing an additional 33,629,559 shares in the last quarter. Norges Bank purchased a new position in GE HealthCare Technologies during the 4th quarter valued at about $596,024,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at $533,655,000. Cynosure Group LLC raised its holdings in GE HealthCare Technologies by 21,045.4% in the fourth quarter. Cynosure Group LLC now owns 4,365,462 shares of the company's stock valued at $358,055,000 after acquiring an additional 4,344,817 shares in the last quarter. Finally, Boston Partners acquired a new position in shares of GE HealthCare Technologies during the 3rd quarter worth about $287,627,000. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Trading Down 0.4%

Shares of NASDAQ GEHC opened at $73.91 on Wednesday. The stock has a market cap of $33.38 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 2.14 and a beta of 0.69. The business has a 50 day simple moving average of $67.01 and a 200 day simple moving average of $69.43. 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 52 week low of $58.75 and a 52 week high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.09. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.06 earnings per share. On average, research analysts predict that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared 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 of this dividend was Friday, July 24th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies's dividend payout ratio is 3.21%.

Analyst Ratings Changes

GEHC has been the topic of several analyst reports. Citigroup lifted their target price on GE HealthCare Technologies from $69.00 to $75.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. UBS Group increased their target price on GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. JPMorgan Chase & Co. dropped their price objective on shares of GE HealthCare Technologies from $80.00 to $65.00 and set a "neutral" rating for the company in a research report on Thursday, April 30th. The Goldman Sachs Group reissued a "neutral" rating on shares of GE HealthCare Technologies in a research report on Monday, June 8th. Finally, BTIG Research reiterated a "buy" rating and issued a $79.00 price target on shares of GE HealthCare Technologies in a research note on Wednesday, August 19th. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $77.73.

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.

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