GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank cut its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 22.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 129,910 shares of the company’s stock after selling 37,850 shares during the quarter. Toronto Dominion Bank’s holdings in GE HealthCare Technologies were worth $11,810,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its stake in GE HealthCare Technologies by 49.4% during the fourth quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock worth $93,467,000 after acquiring an additional 399,961 shares during the last quarter. South Dakota Investment Council grew its stake in shares of GE HealthCare Technologies by 272.1% in the fourth quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock valued at $7,598,000 after buying an additional 71,857 shares in the last quarter. US Bancorp DE grew its stake in shares of GE HealthCare Technologies by 83.4% in the fourth quarter. US Bancorp DE now owns 146,524 shares of the company’s stock valued at $11,329,000 after buying an additional 66,638 shares in the last quarter. Cerity Partners LLC grew its stake in shares of GE HealthCare Technologies by 27.2% in the fourth quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock valued at $3,551,000 after buying an additional 9,809 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of GE HealthCare Technologies by 3.9% in the fourth quarter. Fifth Third Bancorp now owns 33,632 shares of the company’s stock valued at $2,600,000 after buying an additional 1,250 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at GE HealthCare Technologies

In related news, insider Frank R. Jimenez purchased 1,315 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the transaction, the insider now owns 75,796 shares of the company’s stock, valued at $5,799,909.92. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Jan Makela sold 66,955 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total value of $5,459,510.70. Following the sale, the chief executive officer now directly owns 63,348 shares in the company, valued at approximately $5,165,395.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Frank R. Jimenez bought 1,315 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now owns 75,796 shares in the company, valued at $5,799,909.92. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 90,482 shares of company stock worth $7,369,137. 0.27% of the stock is currently owned by company insiders.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC traded up $0.58 during trading hours on Friday, reaching $80.50. 2,531,995 shares of the stock were exchanged, compared to its average volume of 3,089,492. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. The firm has a 50 day simple moving average of $78.65 and a 200-day simple moving average of $82.14. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The stock has a market capitalization of $36.75 billion, a P/E ratio of 23.54, a P/E/G ratio of 2.87 and a beta of 1.20.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, hitting analysts’ consensus estimates of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the business posted $0.85 EPS. GE HealthCare Technologies’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GEHC shares. Argus increased their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Bank of America lowered their target price on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Evercore ISI increased their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. The Goldman Sachs Group started coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target for the company. Finally, Mizuho reduced their price target on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $94.09.

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.