Douglas Lane & Associates LLC Trims Stock Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• Douglas Lane & Associates LLC reduced its stake in GE HealthCare Technologies by 5.5%, owning approximately 447,108 shares valued at $33.12 million at the end of the last quarter.
• GE HealthCare Technologies reported impressive earnings results with an EPS of $1.06, exceeding expectations, and revenue of $5 billion for the quarter, indicating a growth of 3.5% year-over-year.
• The company announced a quarterly dividend of $0.035, reflecting a yield of 0.2% and a dividend payout ratio of 2.87%.

Douglas Lane & Associates LLC reduced its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 5.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 447,108 shares of the company's stock after selling 26,115 shares during the period. Douglas Lane & Associates LLC owned approximately 0.10% of GE HealthCare Technologies worth $33,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC boosted its holdings in GE HealthCare Technologies by 3.2% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,751,773 shares of the company's stock worth $464,226,000 after buying an additional 176,572 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in GE HealthCare Technologies by 49.9% in the first quarter. JPMorgan Chase & Co. now owns 5,140,549 shares of the company's stock valued at $414,894,000 after acquiring an additional 1,711,963 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of GE HealthCare Technologies by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,943,579 shares of the company's stock valued at $398,975,000 after buying an additional 157,839 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in GE HealthCare Technologies by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,096 shares of the company's stock worth $259,956,000 after purchasing an additional 416,386 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of GE HealthCare Technologies by 15.2% in the first quarter. Canada Pension Plan Investment Board now owns 3,111,398 shares of the company's stock valued at $251,121,000 after purchasing an additional 409,636 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock traded up $1.30 during mid-day trading on Friday, hitting $75.30. The company's stock had a trading volume of 1,691,555 shares, compared to its average volume of 3,939,795. The company has a quick ratio of 0.93, a current ratio of 1.16 and a debt-to-equity ratio of 0.85. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The stock's fifty day moving average price is $74.54 and its two-hundred day moving average price is $73.33. The stock has a market capitalization of $34.38 billion, a P/E ratio of 15.42, a P/E/G ratio of 2.93 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.15. The business had revenue of $5 billion during the quarter, compared to analysts' expectations of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.GE HealthCare Technologies's quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company posted $1.00 earnings per share. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. Research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GEHC. BTIG Research reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. Morgan Stanley set a $74.00 price target on shares of GE HealthCare Technologies in a report on Thursday. Zacks Research raised shares of GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 28th. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Finally, Citigroup lifted their price objective on GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.