Toronto Dominion Bank Buys 109,875 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Toronto Dominion Bank increased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 71.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 263,565 shares of the company's stock after buying an additional 109,875 shares during the period. Toronto Dominion Bank owned 0.06% of GE HealthCare Technologies worth $20,606,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $488,531,000. Capital Research Global Investors grew its stake in GE HealthCare Technologies by 4.5% in the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock valued at $4,755,851,000 after buying an additional 2,608,066 shares during the last quarter. Van ECK Associates Corp raised its holdings in GE HealthCare Technologies by 107.3% in the 4th quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company's stock worth $378,520,000 after acquiring an additional 2,506,417 shares during the period. Vanguard Group Inc. raised its holdings in GE HealthCare Technologies by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock worth $4,107,378,000 after acquiring an additional 2,155,429 shares during the period. Finally, Eminence Capital LP bought a new position in GE HealthCare Technologies in the 4th quarter worth $102,574,000. Institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $74.00 to $73.00 in a report on Monday, May 5th. The Goldman Sachs Group dropped their price objective on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Citigroup dropped their price objective on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Evercore ISI dropped their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Wells Fargo & Company dropped their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock traded down $0.14 during trading on Thursday, hitting $69.44. 2,835,056 shares of the company's stock traded hands, compared to its average volume of 3,436,003. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The firm's fifty day moving average price is $70.36 and its 200 day moving average price is $79.77. 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 cap of $31.80 billion, a PE ratio of 16.04, a PEG ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. The firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 earnings per share. Analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies declared that its Board of Directors has authorized a share buyback program on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were given a $0.035 dividend. The ex-dividend date was Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.20%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.95%.

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.