Jacobs Levy Equity Management Inc. Lowers Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in GE HealthCare Technologies by 29.4%, now holding approximately 1.73 million shares valued at $139.76 million.
• GE HealthCare reported an EPS of $1.06 for the last quarter, surpassing analysts' expectations, with revenue totaling $5 billion.
• The company announced a quarterly dividend of $0.035 per share, reflecting an annualized dividend yield of 0.2%.

Jacobs Levy Equity Management Inc. cut its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 29.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,731,637 shares of the company's stock after selling 719,542 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.38% of GE HealthCare Technologies worth $139,760,000 as of its most recent SEC filing.

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

GE HealthCare Technologies Price Performance

GEHC stock traded up $0.55 during mid-day trading on Tuesday, reaching $78.71. 3,882,668 shares of the company traded hands, compared to its average volume of 3,967,314. 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 $35.94 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.89 and a beta of 1.13. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The company has a fifty day moving average price of $74.36 and a 200-day moving average price of $73.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share 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 return on equity of 23.93% and a net margin of 11.22%.The company's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were paid 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 presently 2.87%.

Wall Street Analyst Weigh In

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