Empirical Finance LLC Has $1.52 Million Stock Holdings in GE HealthCare Technologies Inc. $GEHC

Empirical Finance LLC lifted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 76.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 23,799 shares of the company’s stock after purchasing an additional 10,337 shares during the period. Empirical Finance LLC’s holdings in GE HealthCare Technologies were worth $1,523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. California State Teachers Retirement System boosted its holdings in GE HealthCare Technologies by 5,693.1% during the second quarter. California State Teachers Retirement System now owns 40,913,912 shares of the company’s stock valued at $2,618,900,000 after acquiring an additional 40,207,660 shares during the period. Auto Owners Insurance Co increased its stake in GE HealthCare Technologies by 9,525.4% during the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock valued at $278,725,000 after acquiring an additional 33,629,559 shares during the period. Dodge & Cox raised its stake in shares of GE HealthCare Technologies by 13.4% in the fourth quarter. Dodge & Cox now owns 31,211,229 shares of the company’s stock valued at $2,559,945,000 after purchasing an additional 3,693,918 shares in the last quarter. Capital Research Global Investors raised its stake in shares of GE HealthCare Technologies by 1.6% in the 4th quarter. Capital Research Global Investors now owns 25,362,352 shares of the company’s stock valued at $2,080,248,000 after buying an additional 389,796 shares in the last quarter. Finally, State Street Corp boosted its position in shares of GE HealthCare Technologies by 2.0% during the 4th quarter. State Street Corp now owns 20,049,677 shares of the company’s stock valued at $1,644,475,000 after acquiring an additional 401,932 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $65.17 on Thursday. GE HealthCare Technologies Inc. has a 1 year low of $58.75 and a 1 year high of $89.77. The firm has a 50 day moving average of $68.43 and a 200-day moving average of $68.60. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $29.44 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 1.76 and a beta of 0.70.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period in the prior year, the company earned $1.06 EPS. GE HealthCare Technologies’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.93 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 14th. Stockholders of record on Friday, July 24th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, July 24th. GE HealthCare Technologies’s dividend payout ratio is presently 3.21%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GEHC shares. Zacks Research raised shares of GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. BTIG Research reaffirmed a “buy” rating and set a $79.00 price objective on shares of GE HealthCare Technologies in a report on Wednesday, August 19th. The Goldman Sachs Group reiterated a “neutral” rating on shares of GE HealthCare Technologies in a research note on Monday, June 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of GE HealthCare Technologies in a report on Wednesday, August 12th. Finally, BMO Capital Markets began coverage on GE HealthCare Technologies in a research report on Wednesday, July 8th. They set a “market perform” rating and a $70.00 target price for the company. Ten analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $77.73.

GE HealthCare Technologies Profile

GE HealthCare Technologies Inc is a global medical technology, pharmaceutical diagnostics and digital solutions company headquartered in Chicago, Illinois. The company provides products and services designed to support healthcare providers across diagnostic imaging, clinical care and treatment planning.

Its portfolio includes imaging systems such as magnetic resonance imaging, computed tomography, molecular imaging, X-ray and surgical imaging equipment. GE HealthCare also offers ultrasound systems, patient monitoring and care solutions, anesthesia delivery and respiratory care products, maternal and infant care technologies, and healthcare information technology.

The company’s Pharmaceutical Diagnostics business develops and supplies contrast media and radiopharmaceuticals used to enhance medical imaging and support the detection and monitoring of disease.