Toronto Dominion Bank Has $20.61 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Toronto Dominion Bank lifted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 71.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 263,565 shares of the company’s stock after buying an additional 109,875 shares during the quarter. Toronto Dominion Bank owned about 0.06% of GE HealthCare Technologies worth $20,606,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Research Global Investors boosted its holdings in shares of GE HealthCare Technologies by 4.5% during the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company’s stock worth $4,755,851,000 after acquiring an additional 2,608,066 shares during the period. Vanguard Group Inc. lifted its holdings in GE HealthCare Technologies by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock worth $4,107,378,000 after purchasing an additional 2,155,429 shares during the last quarter. Geode Capital Management LLC boosted its stake in GE HealthCare Technologies by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company’s stock valued at $882,777,000 after purchasing an additional 342,819 shares during the period. Invesco Ltd. grew its holdings in GE HealthCare Technologies by 18.4% in the 4th quarter. Invesco Ltd. now owns 8,067,927 shares of the company’s stock valued at $630,751,000 after buying an additional 1,252,613 shares in the last quarter. Finally, Norges Bank bought a new position in GE HealthCare Technologies during the 4th quarter worth $488,531,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of recent research reports. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and decreased their price target for the company from $74.00 to $73.00 in a research note on Monday, May 5th. Wells Fargo & Company cut their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Evercore ISI dropped their price objective on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Citigroup dropped their price target on GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Finally, Morgan Stanley reduced their price objective on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Three investment 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.27.

GE HealthCare Technologies Trading Down 0.0%

GEHC opened at $73.10 on Tuesday. The company has a market cap of $33.47 billion, a P/E ratio of 16.88, a PEG ratio of 3.19 and a beta of 1.21. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The company’s 50 day moving average is $71.06 and its 200-day moving average is $80.02. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.90 earnings per share. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies declared that its board has approved a stock repurchase plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend was Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 2.95%.

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.