GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC cut its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 13.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,707 shares of the company’s stock after selling 586 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in GE HealthCare Technologies were worth $337,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of GE HealthCare Technologies by 14.7% in the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock valued at $3,029,917,000 after purchasing an additional 5,693,244 shares during the last quarter. Norges Bank purchased a new stake in GE HealthCare Technologies during the 4th quarter worth about $229,052,000. Capital Research Global Investors boosted its position in shares of GE HealthCare Technologies by 2.8% during the 4th quarter. Capital Research Global Investors now owns 51,344,719 shares of the company’s stock worth $3,969,975,000 after acquiring an additional 1,401,566 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of GE HealthCare Technologies by 84.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock valued at $181,578,000 after acquiring an additional 1,221,436 shares during the last quarter. Finally, Perpetual Ltd acquired a new stake in shares of GE HealthCare Technologies during the 1st quarter worth about $96,135,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GEHC shares. Mizuho lowered their price target on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Argus boosted their price target on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Bank of America dropped their price objective on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group assumed coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 target price for the company. Finally, Evercore ISI raised their price target on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $94.09.

GE HealthCare Technologies Stock Up 1.1 %

Shares of GE HealthCare Technologies stock opened at $78.82 on Friday. The company has a market cap of $35.98 billion, a P/E ratio of 23.05, a PEG ratio of 2.83 and a beta of 1.22. The firm has a fifty day moving average of $79.98 and a two-hundred day moving average of $81.68. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06. GE HealthCare Technologies Inc. has a one year low of $62.35 and a one year high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, meeting analysts’ consensus estimates of $0.90. The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.80 billion. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. On average, analysts forecast that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. GE HealthCare Technologies’s payout ratio is currently 3.51%.

Insider Transactions at GE HealthCare Technologies

In related news, CTO Taha Kass-Hout sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the sale, the chief technology officer now owns 67,300 shares in the company, valued at approximately $5,296,510. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jan Makela sold 66,955 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $81.54, for a total value of $5,459,510.70. Following the sale, the chief executive officer now directly owns 63,348 shares in the company, valued at $5,165,395.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Taha Kass-Hout sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total transaction of $259,710.00. Following the transaction, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at $5,296,510. The disclosure for this sale can be found here. Insiders have sold a total of 90,482 shares of company stock valued at $7,369,137 in the last ninety days. 0.27% of the stock is currently owned by company insiders.

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.