Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys Shares of 3,812 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Key Points

• Empirical Financial Services LLC acquired 3,812 shares of GE HealthCare Technologies Inc., valued at approximately $308,000, as revealed in their recent SEC filing.
• GE HealthCare Technologies reported strong earnings, with $1.06 earnings per share beating estimates of $0.91, and revenue of $5 billion, up 3.5% year-over-year.
• The company announced a quarterly dividend of $0.035 per share, marking a yield of 0.2%, along with a $1.00 billion stock repurchase plan to buy back 3.1% of its stock.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,812 shares of the company's stock, valued at approximately $308,000.

A number of other large investors also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC acquired a new position in shares of GE HealthCare Technologies in the first quarter worth $25,000. Bogart Wealth LLC grew its stake in 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 in the last quarter. Stonebridge Financial Group LLC raised its position in GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares in the last quarter. LGT Financial Advisors LLC boosted its stake in shares of GE HealthCare Technologies by 46.2% in the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after buying an additional 123 shares during the period. Finally, Accredited Wealth Management LLC purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter worth approximately $30,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC traded up $1.14 during mid-day trading on Thursday, hitting $71.10. 4,195,054 shares of the company were exchanged, compared to its average volume of 4,108,739. The stock has a 50 day simple moving average of $73.59 and a 200-day simple moving average of $76.40. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a quick ratio of 0.93, a current ratio of 1.16 and a debt-to-equity ratio of 0.85. The firm has a market cap of $32.46 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 2.70 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.15. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business's revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 earnings per share. On average, sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies declared that its Board of Directors has authorized a stock repurchase program on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be given a $0.035 dividend. The ex-dividend date is Friday, July 25th. This represents a $0.14 annualized dividend and a yield of 0.2%. GE HealthCare Technologies's dividend payout ratio is presently 2.87%.

Analyst Ratings Changes

A number of brokerages recently issued reports on GEHC. BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. The Goldman Sachs Group lowered their target price on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Citigroup raised their price target on GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Finally, Piper Sandler dropped their price objective on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, GE HealthCare Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $88.55.

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.