Regal Partners Ltd Sells 3,489 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Key Points

• Regal Partners Ltd reduced its holdings in GE HealthCare Technologies by 1.1%, retaining approximately 308,159 shares worth $24.87 million, making it the 13th largest position in its investment portfolio.
• Research firms have mixed ratings on GE HealthCare with Citigroup raising its target price to $93.00 and Wells Fargo reducing it to $89.00, resulting in a consensus rating of "Moderate Buy" with an average target price of $88.55.
• GE HealthCare recently announced a quarterly dividend of $0.035 per share and initiated a stock repurchase plan allowing up to $1.00 billion in share buybacks, reflecting confidence in the company's valuation.

Regal Partners Ltd lowered its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 308,159 shares of the company's stock after selling 3,489 shares during the quarter. GE HealthCare Technologies comprises about 2.5% of Regal Partners Ltd's portfolio, making the stock its 13th biggest holding. Regal Partners Ltd owned about 0.07% of GE HealthCare Technologies worth $24,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Sagespring Wealth Partners LLC acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter worth about $213,000. Summit Investment Advisors Inc. lifted its position in shares of GE HealthCare Technologies by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 18,988 shares of the company's stock worth $1,484,000 after purchasing an additional 605 shares in the last quarter. Savvy Advisors Inc. purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter worth approximately $249,000. Mariner LLC increased its stake in shares of GE HealthCare Technologies by 1.2% during the fourth quarter. Mariner LLC now owns 78,747 shares of the company's stock worth $6,156,000 after buying an additional 917 shares during the period. Finally, Belpointe Asset Management LLC increased its stake in shares of GE HealthCare Technologies by 7.8% during the fourth quarter. Belpointe Asset Management LLC now owns 26,662 shares of the company's stock worth $2,261,000 after buying an additional 1,927 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GEHC shares. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their price target for the company from $74.00 to $73.00 in a research note on Monday, May 5th. Piper Sandler lowered their target price on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group lowered their target price on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Finally, BTIG Research restated a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC traded down $0.26 on Friday, hitting $73.40. The company's stock had a trading volume of 2,926,427 shares, compared to its average volume of 4,070,813. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The company has a market capitalization of $33.51 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 2.88 and a beta of 1.13. The stock's 50-day moving average is $73.87 and its two-hundred day moving average is $75.81. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.15. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%. The company had revenue of $5 billion during the quarter, compared to analysts' expectations of $4.96 billion. During the same quarter in the prior year, the business posted $1.00 earnings per share. The company's revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be given a $0.035 dividend. The ex-dividend date is Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is 2.87%.

GE HealthCare Technologies declared that its board has authorized a share buyback plan on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

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.