TD Asset Management Inc Acquires 75,214 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Key Points

• TD Asset Management Inc increased its stake in GE HealthCare Technologies Inc. by 12.3%, owning 687,159 shares worth approximately $55.46 million after buying an additional 75,214 shares during the first quarter.
• GE HealthCare recently announced a $1 billion share buyback plan and declared a quarterly dividend of $0.035 per share, contributing to an annualized yield of 0.18%.
• Analyst ratings for GE HealthCare are largely positive, with most analysts assigning a "buy" rating and an average price target of $88.55.

TD Asset Management Inc boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 12.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 687,159 shares of the company's stock after purchasing an additional 75,214 shares during the quarter. TD Asset Management Inc owned about 0.15% of GE HealthCare Technologies worth $55,461,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bogart Wealth LLC boosted its position in shares of GE HealthCare Technologies by 260.0% in the first quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after acquiring an additional 247 shares during the period. Stonebridge Financial Group LLC boosted its position in shares of GE HealthCare Technologies by 165.7% in the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares during the period. LGT Financial Advisors LLC boosted its position in shares of GE HealthCare Technologies by 46.2% in the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after acquiring an additional 123 shares during the period. Accredited Wealth Management LLC bought a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at about $30,000. Finally, Ameriflex Group Inc. bought a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at about $31,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Citigroup boosted their price target on GE HealthCare Technologies from $86.00 to $89.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their price target for the company from $74.00 to $73.00 in a research note on Monday, May 5th. Piper Sandler dropped their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $88.55.

GE HealthCare Technologies Price Performance

NASDAQ GEHC traded up $0.13 during trading on Monday, hitting $77.74. 3,949,656 shares of the company's stock were exchanged, compared to its average volume of 3,095,229. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. The company has a market cap of $35.60 billion, a PE ratio of 16.37, a P/E/G ratio of 2.62 and a beta of 1.14. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The stock's 50 day moving average price is $73.38 and its two-hundred day moving average price is $76.92.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data 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. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The firm's revenue was up 2.7% compared to the same quarter last year. Research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies announced that its Board of Directors has approved a stock buyback plan on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Friday, July 25th. GE HealthCare Technologies's payout ratio is presently 2.95%.

GE HealthCare Technologies 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.