GE HealthCare Technologies Inc. $GEHC Stake Increased by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its GE HealthCare stake by 5.1% in the third quarter, bringing its holdings to 608,890 shares valued at approximately $39 million. Institutional investors collectively own 82.06% of the company.
• GE HealthCare reported quarterly EPS of $1.13, exceeding the $1.04 consensus estimate, while revenue rose 5.8% year over year to $5.29 billion.
• The company raised its quarterly dividend to $0.04 per share, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $78.35.

TD Waterhouse Canada Inc. lifted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 608,890 shares of the company's stock after purchasing an additional 29,752 shares during the period. TD Waterhouse Canada Inc. owned approximately 0.13% of GE HealthCare Technologies worth $39,015,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in GEHC. NBH Bank purchased a new position in GE HealthCare Technologies in the second quarter valued at about $26,000. Physician Wealth Advisors Inc. lifted its position in shares of GE HealthCare Technologies by 60.4% during the 1st 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. MV Capital Management Inc. acquired a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at approximately $33,000. MidFirst Bank purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter worth approximately $35,000. Finally, Roble Belko & Company Inc boosted its stake in shares of GE HealthCare Technologies by 57.3% during the 1st quarter. Roble Belko & Company Inc now owns 497 shares of the company's stock worth $35,000 after acquiring an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Trading Down 1.1%

Shares of GEHC opened at $69.57 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97. The firm has a 50 day simple moving average of $68.54 and a 200-day simple moving average of $66.79. GE HealthCare Technologies Inc. has a 1-year low of $58.75 and a 1-year high of $89.77. The stock has a market cap of $31.42 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 1.84 and a beta of 0.73.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.09. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same period in the previous year, the firm posted $1.06 EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. Equities analysts forecast that GE HealthCare Technologies Inc. will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 23rd will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, October 23rd. This is a positive change from GE HealthCare Technologies's previous quarterly dividend of $0.0350. This represents a $0.16 annualized dividend and a yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is 3.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GEHC shares. Needham & Company LLC restated a "buy" rating and issued a $93.00 price target on shares of GE HealthCare Technologies in a report on Monday, October 5th. Piper Sandler reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Weiss Ratings raised GE HealthCare Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, October 6th. Wells Fargo & Company lifted their price objective on GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Finally, Citigroup decreased their target price on GE HealthCare Technologies from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, GE HealthCare Technologies has an average rating of "Moderate Buy" and a consensus price target of $78.35.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology and healthcare services company that develops, manufactures and supports products used by hospitals, clinicians and researchers. Its offerings are designed to assist with disease detection, diagnosis, treatment, patient monitoring and clinical workflow management.

The company's portfolio includes computed tomography, magnetic resonance imaging, X-ray and molecular imaging systems; ultrasound equipment; patient monitoring and anesthesia delivery technologies; and pharmaceutical diagnostics, including contrast agents used in medical imaging.

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