GE HealthCare Technologies Inc. (NASDAQ:GEHC) Short Interest Update

GE HealthCare Technologies Inc. (NASDAQ:GEHC) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 8,280,000 shares, a decrease of 9.2% from the October 15th total of 9,120,000 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily trading volume, of 2,870,000 shares, the short-interest ratio is currently 2.9 days.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GEHC. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Stifel Nicolaus boosted their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Evercore ISI upped their target price 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. Finally, BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average target price of $94.36.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now 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 legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On GE HealthCare Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quent Capital LLC increased its position in shares of GE HealthCare Technologies by 18.4% in the third quarter. Quent Capital LLC now owns 766 shares of the company’s stock worth $72,000 after purchasing an additional 119 shares during the period. Greenleaf Trust increased its holdings in GE HealthCare Technologies by 1.7% in the 3rd quarter. Greenleaf Trust now owns 7,619 shares of the company’s stock valued at $715,000 after buying an additional 124 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of GE HealthCare Technologies by 8.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company’s stock worth $135,000 after acquiring an additional 127 shares during the period. Quarry LP boosted its position in shares of GE HealthCare Technologies by 28.3% during the 2nd quarter. Quarry LP now owns 594 shares of the company’s stock worth $46,000 after acquiring an additional 131 shares in the last quarter. Finally, Harbour Investments Inc. increased its stake in GE HealthCare Technologies by 4.3% in the third quarter. Harbour Investments Inc. now owns 3,164 shares of the company’s stock valued at $297,000 after acquiring an additional 131 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC traded up $0.96 on Monday, reaching $82.72. The stock had a trading volume of 2,918,001 shares, compared to its average volume of 3,047,524. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The company has a market cap of $37.79 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 2.93 and a beta of 1.24. The firm has a fifty day moving average of $88.65 and a two-hundred day moving average of $83.55. GE HealthCare Technologies has a 1-year low of $66.39 and a 1-year high of $94.55.

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

GE HealthCare Technologies Announces Dividend

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

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.