Kovack Advisors Inc. Sells 414 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Kovack Advisors Inc. reduced its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 11.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,227 shares of the company’s stock after selling 414 shares during the period. Kovack Advisors Inc.’s holdings in GE HealthCare Technologies were worth $303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LGT Financial Advisors LLC boosted its stake in shares of GE HealthCare Technologies by 1,673.3% in the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after buying an additional 251 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in GE HealthCare Technologies during the third quarter worth $26,000. Pathway Financial Advisers LLC purchased a new position in GE HealthCare Technologies in the first quarter worth $25,000. Capital Performance Advisors LLP bought a new position in GE HealthCare Technologies in the 3rd quarter valued at $26,000. Finally, Fred Alger Management LLC purchased a new stake in shares of GE HealthCare Technologies during the 2nd quarter valued at $26,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Down 1.4 %

GEHC stock opened at $81.76 on Friday. The stock has a 50-day simple moving average of $88.70 and a two-hundred day simple moving average of $83.43. GE HealthCare Technologies Inc. has a twelve month low of $66.39 and a twelve month high of $94.55. The firm has a market capitalization of $37.35 billion, a PE ratio of 22.46, a PEG ratio of 3.02 and a beta of 1.24. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12.

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

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a $0.03 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.30%.

Insider Activity at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This 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. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GEHC shares. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Evercore ISI increased their target price 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. Wells Fargo & Company lifted their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Stifel Nicolaus increased their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.36.

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.