Toronto Dominion Bank Increases Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Toronto Dominion Bank increased its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 71.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 263,565 shares of the company's stock after acquiring an additional 109,875 shares during the period. Toronto Dominion Bank owned approximately 0.06% of GE HealthCare Technologies worth $20,606,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust purchased a new position in shares of GE HealthCare Technologies during the fourth quarter worth $25,000. Runnymede Capital Advisors Inc. purchased a new position in shares of GE HealthCare Technologies during the fourth quarter worth $28,000. LGT Financial Advisors LLC boosted its position in shares of GE HealthCare Technologies by 46.2% during the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after buying an additional 123 shares during the period. Accredited Wealth Management LLC purchased a new position in shares of GE HealthCare Technologies during the fourth quarter worth $30,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of GE HealthCare Technologies during the fourth quarter worth $32,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded down $1.57 during midday trading on Friday, reaching $69.96. 7,095,456 shares of the stock were exchanged, compared to its average volume of 3,452,002. The business's 50-day moving average price is $68.96 and its 200 day moving average price is $79.03. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The company has a market capitalization of $32.03 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. The firm had revenue of $4.78 billion for the quarter, compared to analysts' expectations of $4.66 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies declared that its board has initiated a stock buyback program on Wednesday, April 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend was Friday, April 25th. GE HealthCare Technologies's payout ratio is 2.95%.

Analyst Ratings Changes

A number of research analysts recently issued reports on GEHC shares. Morgan Stanley decreased their target price on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and decreased their target price for the company from $74.00 to $73.00 in a report on Monday, May 5th. BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the company a "buy" rating in a report on Monday, April 14th. Piper Sandler decreased their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

About GE HealthCare Technologies

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.