Regal Partners Ltd Sells 55,036 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Regal Partners Ltd lowered its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 17.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 269,500 shares of the company’s stock after selling 55,036 shares during the quarter. GE HealthCare Technologies comprises approximately 2.2% of Regal Partners Ltd’s holdings, making the stock its 14th largest holding. Regal Partners Ltd’s holdings in GE HealthCare Technologies were worth $25,293,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GEHC. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its stake in shares of GE HealthCare Technologies by 375.2% in the third quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 37,297 shares of the company’s stock valued at $3,500,000 after buying an additional 29,448 shares during the period. ICICI Prudential Asset Management Co Ltd lifted its position in shares of GE HealthCare Technologies by 18.9% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 5,961 shares of the company’s stock worth $559,000 after acquiring an additional 947 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of GE HealthCare Technologies by 7.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,240 shares of the company’s stock worth $2,087,000 after purchasing an additional 1,524 shares in the last quarter. Mengis Capital Management Inc. raised its stake in shares of GE HealthCare Technologies by 53.1% in the third quarter. Mengis Capital Management Inc. now owns 33,677 shares of the company’s stock valued at $3,161,000 after purchasing an additional 11,685 shares in the last quarter. Finally, Aptus Capital Advisors LLC raised its stake in shares of GE HealthCare Technologies by 17.4% in the third quarter. Aptus Capital Advisors LLC now owns 4,205 shares of the company’s stock valued at $395,000 after purchasing an additional 622 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $84.18 on Thursday. GE HealthCare Technologies Inc. has a 12-month low of $66.39 and a 12-month high of $94.55. The stock has a 50-day simple moving average of $88.85 and a 200 day simple moving average of $83.48. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $38.46 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 3.05 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 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 company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. The company’s revenue was up .9% on a year-over-year basis. On average, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a $0.03 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. GE HealthCare Technologies’s payout ratio is 3.30%.

Insider Activity

In related news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the transaction, the chief executive officer now owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Evercore ISI boosted their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Wells Fargo & Company increased their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Wednesday, September 18th. Finally, UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price target for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. 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 assigned a strong buy rating to the stock. According to MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average target price of $94.36.

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.