TD Waterhouse Canada Inc. Acquires 50,318 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• TD Waterhouse Canada increased its GE HealthCare Technologies stake by 9.5% in the second quarter, purchasing 50,318 shares and bringing its total holdings to 579,138 shares valued at approximately $37.6 million.
• Institutional investors own 82.06% of GEHC, with several major firms—including Auto Owners Insurance, Dodge & Cox, Capital Research Global Investors, State Street and Barrow Hanley—also expanding their positions.
• GEHC reported quarterly EPS of $1.13, beating estimates of $1.04, while revenue rose 5.8% year over year to $5.29 billion. Analysts maintain a consensus “Hold” rating with an average price target of $77.73, compared with the stock’s $68.86 opening price.

TD Waterhouse Canada Inc. grew its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 9.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 579,138 shares of the company's stock after buying an additional 50,318 shares during the period. TD Waterhouse Canada Inc. owned approximately 0.13% of GE HealthCare Technologies worth $37,590,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Auto Owners Insurance Co lifted its holdings in shares of 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 acquiring an additional 33,629,559 shares during the last quarter. Dodge & Cox increased its stake in GE HealthCare Technologies by 13.4% during the fourth quarter. Dodge & Cox now owns 31,211,229 shares of the company's stock worth $2,559,945,000 after acquiring an additional 3,693,918 shares during the last quarter. Capital Research Global Investors increased its stake in GE HealthCare Technologies by 1.6% during the fourth quarter. Capital Research Global Investors now owns 25,362,352 shares of the company's stock worth $2,080,248,000 after acquiring an additional 389,796 shares during the last quarter. State Street Corp raised its position in GE HealthCare Technologies by 2.0% during the fourth quarter. State Street Corp now owns 20,049,677 shares of the company's stock valued at $1,644,475,000 after purchasing an additional 401,932 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in GE HealthCare Technologies by 13.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company's stock valued at $861,307,000 after purchasing an additional 1,571,226 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on GEHC. The Goldman Sachs Group reiterated a "neutral" rating on shares of GE HealthCare Technologies in a report on Monday, June 8th. UBS Group increased their price target on GE HealthCare Technologies from $67.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Argus dropped their price objective on shares of 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. Weiss Ratings reissued a "hold (c-)" rating on shares of GE HealthCare Technologies in a research note on Wednesday, August 12th. Finally, BTIG Research restated a "buy" rating and issued a $79.00 target price on shares of GE HealthCare Technologies in a report on Wednesday, August 19th. Ten analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $77.73.

GE HealthCare Technologies Stock Down 1.2%

Shares of GEHC opened at $68.86 on Friday. The firm has a market capitalization of $31.10 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.84 and a beta of 0.70. GE HealthCare Technologies Inc. has a 12-month low of $58.75 and a 12-month high of $89.77. The firm has a fifty day moving average price of $68.29 and a 200-day moving average price of $69.01. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $5.26 billion. During the same quarter in the previous year, the business earned $1.06 earnings per share. GE HealthCare Technologies's quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts expect that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 24th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 3.21%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source