Sector Gamma AS Buys 12,000 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• Sector Gamma AS increased its holdings in GE HealthCare Technologies by 24%, now owning 62,000 shares worth approximately $5 million, making it the company's 23rd largest position.
• GE HealthCare Technologies reported earnings per share (EPS) of $1.06 for the last quarter, exceeding expectations of $0.91, with revenue increasing by 3.5% year-over-year.
• The company has announced a quarterly dividend of $0.035 per share, representing an annualized yield of 0.2%, and also approved a $1 billion share repurchase plan.

Sector Gamma AS lifted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 24.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,000 shares of the company's stock after purchasing an additional 12,000 shares during the quarter. GE HealthCare Technologies comprises approximately 1.6% of Sector Gamma AS's holdings, making the stock its 23rd largest position. Sector Gamma AS's holdings in GE HealthCare Technologies were worth $5,004,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Research Global Investors increased 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 valued at $4,755,851,000 after acquiring an additional 2,608,066 shares in the last quarter. JPMorgan Chase & Co. increased its stake in GE HealthCare Technologies by 49.9% during the 1st quarter. JPMorgan Chase & Co. now owns 5,140,549 shares of the company's stock valued at $414,894,000 after purchasing an additional 1,711,963 shares in the last quarter. Eminence Capital LP purchased a new position in GE HealthCare Technologies in the fourth quarter worth about $102,574,000. BNP Paribas Financial Markets bought a new position in shares of GE HealthCare Technologies in the fourth quarter worth approximately $76,093,000. Finally, Nuveen LLC purchased a new stake in shares of GE HealthCare Technologies during the first quarter valued at approximately $77,058,000. Institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. BTIG Research restated a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Morgan Stanley dropped their price objective on 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. The Goldman Sachs Group decreased their target price on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Finally, Wells Fargo & Company lowered 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 research report on Thursday, May 1st. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC traded up $0.80 during trading on Tuesday, hitting $73.97. The company had a trading volume of 2,851,794 shares, compared to its average volume of 4,047,289. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16. The firm has a market capitalization of $33.77 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 2.80 and a beta of 1.13. The stock has a 50 day simple moving average of $73.93 and a 200 day simple moving average of $75.42.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.15. The company 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%. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 EPS. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. As a group, analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies announced that its board has approved a share buyback plan on Wednesday, April 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were issued a $0.035 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $0.14 annualized dividend and a yield of 0.2%. GE HealthCare Technologies's dividend payout ratio is currently 2.87%.

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.