40,870 Shares in GE HealthCare Technologies Inc. $GEHC Purchased by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management Partners Inc. bought 40,870 shares of GE HealthCare Technologies, valued at approximately $3.3 million, significantly adding to the company's institutional investor ownership of 82.06%.
• In its recent quarterly earnings, GE HealthCare reported earnings per share of $1.06, surpassing analysts' expectations of $0.91, with revenue rising 3.5% year-over-year.
• The company declared a quarterly dividend of $0.035 per share, representing an annualized dividend yield of 0.2% and a payout ratio of 2.87%.

Polar Asset Management Partners Inc. bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 40,870 shares of the company's stock, valued at approximately $3,299,000.

Several other hedge funds have also recently bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new stake in shares of GE HealthCare Technologies during the 1st quarter valued at approximately $25,000. Bogart Wealth LLC grew its holdings in shares of GE HealthCare Technologies by 260.0% during the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after purchasing an additional 247 shares during the last quarter. Stonebridge Financial Group LLC grew its holdings in shares of GE HealthCare Technologies by 165.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Ameriflex Group Inc. bought a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at approximately $31,000. Finally, Olde Wealth Management LLC bought a new stake in shares of GE HealthCare Technologies during the 1st quarter valued at approximately $35,000. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Down 3.5%

Shares of GE HealthCare Technologies stock traded down $2.72 during trading on Wednesday, reaching $75.99. 4,101,931 shares of the company traded hands, compared to its average volume of 3,968,766. The firm has a market capitalization of $34.69 billion, a PE ratio of 15.57, a P/E/G ratio of 2.99 and a beta of 1.13. The company has a 50 day moving average price of $74.42 and a 200-day moving average price of $73.83. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.15. The business had revenue of $5 billion during the quarter, compared to analyst estimates of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. GE HealthCare Technologies's quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.00 EPS. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. As a group, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, July 25th. GE HealthCare Technologies's payout ratio is 2.87%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GEHC shares. Zacks Research upgraded shares of GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. Wall Street Zen upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Citigroup lifted their target price on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Morgan Stanley cut their target price on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.40.

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.