Kovack Advisors Inc. Lowers Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Kovack Advisors Inc. reduced its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 11.4% in the third quarter, Holdings Channel.com reports. The firm owned 3,227 shares of the company’s stock after selling 414 shares during the quarter. Kovack Advisors Inc.’s holdings in GE HealthCare Technologies were worth $303,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in GE HealthCare Technologies by 9.2% in the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after buying an additional 4,107,746 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of GE HealthCare Technologies by 5.2% in the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock valued at $4,908,406,000 after purchasing an additional 2,647,204 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at $208,513,000. Marshall Wace LLP bought a new position in shares of GE HealthCare Technologies during the 2nd quarter valued at $63,639,000. Finally, Jacobs Levy Equity Management Inc. raised its position in GE HealthCare Technologies by 4,959.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock worth $68,957,000 after purchasing an additional 743,523 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Insider Transactions at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $81.76 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 1 year low of $66.39 and a 1 year high of $94.55. The company’s 50-day moving average is $88.70 and its 200 day moving average is $83.43. The stock has a market capitalization of $37.35 billion, a P/E ratio of 22.46, a P/E/G ratio of 3.02 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the prior year, the company earned $0.99 EPS. The business’s revenue was up .9% compared to the same quarter last year. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is currently 3.30%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GEHC shares. Evercore ISI upped their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target on the stock. Wells Fargo & Company boosted their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Wednesday, September 18th. Finally, UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price target for the company from $84.00 to $74.00 in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.36.

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.