Bank of Nova Scotia Sells 104,655 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Bank of Nova Scotia trimmed its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 62.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,689 shares of the company’s stock after selling 104,655 shares during the quarter. Bank of Nova Scotia’s holdings in GE HealthCare Technologies were worth $4,823,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust acquired a new position in shares of GE HealthCare Technologies in the fourth quarter valued at about $25,000. Runnymede Capital Advisors Inc. acquired a new position in shares of GE HealthCare Technologies during the 4th quarter worth approximately $28,000. Continuum Advisory LLC increased its holdings in shares of GE HealthCare Technologies by 101.8% during the third quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock worth $31,000 after purchasing an additional 168 shares during the period. Bank of Jackson Hole Trust acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $32,000. Finally, OFI Invest Asset Management bought a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $34,000. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GEHC shares. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. Citigroup increased their price objective on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company boosted their target price on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, The Goldman Sachs Group upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $100.00 in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.73.

GE HealthCare Technologies Trading Up 0.9 %

NASDAQ GEHC opened at $62.81 on Friday. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The business’s fifty day moving average is $81.75 and its 200 day moving average is $84.06. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a market cap of $28.72 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.19. The company had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. As a group, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.22%. GE HealthCare Technologies’s payout ratio is 3.23%.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.