Douglas Lane & Associates LLC Trims 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 lessened its holdings in shares of 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 & Exchange Commission. The firm owned 447,108 shares of the company's stock after selling 26,115 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.10% of GE HealthCare Technologies worth $33,117,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in GEHC. N.E.W. Advisory Services LLC purchased a new position in shares of GE HealthCare Technologies during the 1st quarter worth $25,000. Bogart Wealth LLC lifted its stake 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 worth $28,000 after purchasing an additional 247 shares during the period. Stonebridge Financial Group LLC lifted its stake 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 worth $29,000 after purchasing an additional 222 shares during the period. Ameriflex Group Inc. purchased a new position in shares of GE HealthCare Technologies during the 4th quarter worth $31,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of GE HealthCare Technologies during the 1st quarter worth $35,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Down 1.9%

Shares of GE HealthCare Technologies stock opened at $76.44 on Friday. The business has a 50-day moving average of $74.46 and a 200-day moving average of $73.54. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. The company has a market capitalization of $34.90 billion, a PE ratio of 15.66, a P/E/G ratio of 2.98 and a beta of 1.13. 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 issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.91 by $0.15. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business had revenue of $5 billion for the quarter, compared to analysts' expectations of $4.96 billion. During the same quarter last year, the company posted $1.00 earnings per share. The company's quarterly revenue was up 3.5% compared to the same quarter last year. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. As a group, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.87%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GEHC. BTIG Research restated a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Zacks Research upgraded GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 28th. Citigroup upped 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. Finally, Morgan Stanley dropped their price objective on GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st. One 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 company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.40.

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.

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