Toronto Dominion Bank Purchases 24,293 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Toronto Dominion Bank boosted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 18.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 153,690 shares of the company’s stock after buying an additional 24,293 shares during the period. Toronto Dominion Bank’s holdings in GE HealthCare Technologies were worth $14,424,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LGT Financial Advisors LLC boosted its position in shares of GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after acquiring an additional 251 shares during the last quarter. Fred Alger Management LLC purchased a new stake in GE HealthCare Technologies in the second quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new stake in GE HealthCare Technologies in the third quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new stake in GE HealthCare Technologies during the third quarter valued at approximately $26,000. Finally, Elkhorn Partners Limited Partnership purchased a new position in GE HealthCare Technologies in the 2nd quarter worth approximately $31,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the sale, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Down 0.6 %

Shares of NASDAQ GEHC opened at $81.10 on Friday. The company has a market cap of $37.05 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 2.96 and a beta of 1.07. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The firm’s fifty day moving average is $85.84 and its 200 day moving average is $83.71. GE HealthCare Technologies Inc. has a 52 week low of $71.31 and a 52 week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 earnings per share. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be issued a $0.035 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 annualized dividend and a yield of 0.17%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.30%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Wednesday, September 18th. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their target price for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. Finally, Wells Fargo & Company increased their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.46.

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.