Regal Partners Ltd Trims Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Regal Partners Ltd cut its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 17.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 269,500 shares of the company's stock after selling 55,036 shares during the quarter. GE HealthCare Technologies accounts for 2.2% of Regal Partners Ltd's investment portfolio, making the stock its 14th largest position. Regal Partners Ltd owned approximately 0.06% of GE HealthCare Technologies worth $25,293,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new stake in shares of GE HealthCare Technologies in the 1st quarter valued at approximately $25,000. LGT Financial Advisors LLC increased its position 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 valued at $25,000 after purchasing an additional 251 shares during the last quarter. Fred Alger Management LLC purchased a new stake in shares of GE HealthCare Technologies in the 2nd quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at approximately $26,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at approximately $26,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock traded down $1.26 during midday trading on Thursday, hitting $82.92. 3,060,526 shares of the company's stock were exchanged, compared to its average volume of 3,044,843. GE HealthCare Technologies Inc. has a 12-month low of $66.39 and a 12-month high of $94.55. The stock has a market cap of $37.88 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 3.05 and a beta of 1.24. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The firm's 50 day simple moving average is $88.76 and its 200 day simple moving average is $83.48.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping the consensus estimate 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 company had revenue of $4.86 billion during the quarter, compared to analysts' expectations of $4.87 billion. During the same quarter last year, the business earned $0.99 EPS. The business's revenue was up .9% on a year-over-year basis. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.29 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies's dividend payout ratio (DPR) is 3.30%.

Insider Activity at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the sale, the chief executive officer now owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GEHC. BTIG Research raised shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research report on Wednesday, September 18th. UBS Group downgraded shares of GE HealthCare Technologies from a "neutral" rating to a "sell" rating and dropped their target price for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Wells Fargo & Company increased their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They issued a "neutral" rating and a $90.00 target price on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and a consensus price target 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.