Westbourne Investments Inc. Cuts Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• Westbourne Investments Inc. reduced its stake in GE HealthCare Technologies by 14.9%, now holding 27,205 shares worth approximately $2,015,000.
• GE HealthCare Technologies reported earnings of $1.06 per share, surpassing estimates, and had quarterly revenue of $5 billion, marking a 3.5% increase from the previous year.
• The company has announced a quarterly dividend of $0.035 per share, reflecting an annualized yield of 0.2%.

Westbourne Investments Inc. trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 14.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,205 shares of the company's stock after selling 4,780 shares during the quarter. GE HealthCare Technologies comprises 1.1% of Westbourne Investments Inc.'s portfolio, making the stock its 27th biggest holding. Westbourne Investments Inc.'s holdings in GE HealthCare Technologies were worth $2,015,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in GE HealthCare Technologies by 49.9% during 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 during the period. Nuveen LLC bought a new stake in GE HealthCare Technologies during the first quarter valued at about $77,058,000. GAMMA Investing LLC boosted its holdings in GE HealthCare Technologies by 9,524.6% during the first quarter. GAMMA Investing LLC now owns 771,507 shares of the company's stock valued at $62,268,000 after acquiring an additional 763,491 shares during the period. Eminence Capital LP lifted its stake in shares of GE HealthCare Technologies by 38.7% in the first quarter. Eminence Capital LP now owns 1,819,129 shares of the company's stock valued at $146,822,000 after buying an additional 507,101 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of GE HealthCare Technologies by 57.5% in the fourth quarter. Royal Bank of Canada now owns 1,314,473 shares of the company's stock valued at $102,767,000 after buying an additional 479,826 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

GEHC stock traded up $0.91 during mid-day trading on Friday, hitting $74.91. The company had a trading volume of 6,294,083 shares, compared to its average volume of 3,137,968. The firm has a market cap of $34.20 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 2.86 and a beta of 1.13. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The stock's fifty day moving average price is $74.53 and its two-hundred day moving average price is $73.19.

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, topping the consensus estimate of $0.91 by $0.15. The firm had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The company's revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company earned $1.00 earnings per share. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. On average, analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were issued a $0.035 dividend. 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%.

Analyst Ratings Changes

GEHC has been the subject of a number of research reports. Wall Street Zen lowered shares of GE HealthCare Technologies from a "buy" rating to a "hold" rating in a report on Saturday. Citigroup boosted their price objective on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. Zacks Research raised shares of GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 28th. Finally, Morgan Stanley set a $74.00 price objective on shares of GE HealthCare Technologies in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies 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.