Empowered Funds LLC Acquires 3,713 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Empowered Funds LLC increased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 15.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,183 shares of the company’s stock after purchasing an additional 3,713 shares during the quarter. Empowered Funds LLC’s holdings in GE HealthCare Technologies were worth $2,125,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cherry Creek Investment Advisors Inc. boosted its stake in GE HealthCare Technologies by 0.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock valued at $2,920,000 after acquiring an additional 114 shares during the last quarter. Independence Bank of Kentucky lifted its stake in shares of GE HealthCare Technologies by 6.0% during the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock valued at $158,000 after buying an additional 114 shares in the last quarter. Tandem Capital Management Corp ADV lifted its stake in shares of GE HealthCare Technologies by 0.4% during the 4th quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock valued at $2,205,000 after buying an additional 118 shares in the last quarter. Custom Index Systems LLC lifted its stake in shares of GE HealthCare Technologies by 4.4% during the 4th quarter. Custom Index Systems LLC now owns 2,843 shares of the company’s stock valued at $222,000 after buying an additional 120 shares in the last quarter. Finally, Greenleaf Trust lifted its stake in shares of GE HealthCare Technologies by 1.7% during the 3rd quarter. Greenleaf Trust now owns 7,619 shares of the company’s stock valued at $715,000 after buying an additional 124 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $92.21 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. GE HealthCare Technologies Inc. has a one year low of $74.51 and a one year high of $94.80. The company’s fifty day moving average price is $84.03 and its 200-day moving average price is $85.51. The firm has a market capitalization of $42.13 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 2.93 and a beta of 1.15.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. On average, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, January 14th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Tuesday, January 14th. This represents a $0.14 annualized dividend and a dividend yield of 0.15%. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.85%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Wells Fargo & Company upped their target price on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Citigroup upped their target price on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $97.85.

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.