Otter Creek Advisors LLC Has $2.50 Million Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• Otter Creek Advisors LLC reduced its stake in GE HealthCare Technologies Inc. by 49.8%, holding 33,759 shares valued at approximately $2.50 million after selling 33,553 shares in the second quarter.
• GE HealthCare Technologies reported earnings per share (EPS) of $1.06 for the last quarter, beating estimates, with a revenue of $5 billion showing a 3.5% year-over-year increase.
• The company announced a quarterly dividend of $0.035 per share to be paid on November 14, reflecting a 0.2% dividend yield and a payout ratio of 2.87%.

Otter Creek Advisors LLC cut its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 49.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,759 shares of the company's stock after selling 33,553 shares during the period. Otter Creek Advisors LLC's holdings in GE HealthCare Technologies were worth $2,501,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. increased its holdings in GE HealthCare Technologies by 24.3% during the 1st quarter. Bessemer Group Inc. now owns 6,671 shares of the company's stock valued at $538,000 after purchasing an additional 1,306 shares in the last quarter. Flagship Harbor Advisors LLC boosted its position in shares of GE HealthCare Technologies by 17.4% in the 1st quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company's stock worth $278,000 after purchasing an additional 511 shares during the last quarter. Lineweaver Wealth Advisors LLC acquired a new stake in GE HealthCare Technologies during the 2nd quarter worth $592,000. Wealth Enhancement Advisory Services LLC raised its stake in GE HealthCare Technologies by 23.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company's stock worth $4,105,000 after buying an additional 9,769 shares during the period. Finally, Exome Asset Management LLC acquired a new stake in GE HealthCare Technologies during the 1st quarter worth $2,050,000. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Trading Up 0.9%

Shares of GEHC stock opened at $74.05 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. The stock has a market cap of $33.81 billion, a P/E ratio of 15.17, 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 $74.51 and a 200 day simple moving average of $72.08. 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 announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.91 by $0.15. The business 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 period in the previous year, the business earned $1.00 earnings per share. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. On average, research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be issued a dividend of $0.035 per share. The ex-dividend date is Friday, October 24th. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. GE HealthCare Technologies's dividend payout ratio is 2.87%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of GE HealthCare Technologies in a research note on Tuesday. Citigroup downgraded GE HealthCare Technologies from a "buy" rating to a "neutral" rating and dropped their price target for the company from $93.00 to $83.00 in a research note on Tuesday, October 7th. Wall Street Zen downgraded GE HealthCare Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, September 20th. Barclays initiated coverage on GE HealthCare Technologies in a research note on Monday. They issued an "equal weight" rating and a $86.00 price target on the stock. Finally, Morgan Stanley set a $74.00 price target on GE HealthCare Technologies in a research note on Thursday, September 18th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, GE HealthCare Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $85.20.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.