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

GE HealthCare Technologies Inc. (NASDAQ:GEHC) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 9,240,000 shares, a growth of 6.6% from the November 30th total of 8,670,000 shares. Approximately 2.1% of the shares of the company are short sold. Based on an average trading volume of 3,250,000 shares, the short-interest ratio is presently 2.8 days.

Wall Street Analysts Forecast Growth

GEHC has been the topic of several research reports. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price target for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, September 18th. Stifel Nicolaus lifted their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective on the stock. Finally, Evercore ISI raised their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.46.

GE HealthCare Technologies Price Performance

Shares of GEHC stock traded down $0.42 during trading on Wednesday, hitting $78.18. The company had a trading volume of 1,877,203 shares, compared to its average volume of 3,057,291. The stock’s 50-day moving average is $83.04 and its two-hundred day moving average is $83.96. The stock has a market capitalization of $35.72 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 2.96 and a beta of 1.07. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies has a 52 week low of $71.31 and a 52 week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (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 analyst estimates of $4.87 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts predict that GE HealthCare Technologies will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. The ex-dividend date is Tuesday, January 14th. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.18%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.85%.

Insider Activity

In related news, CEO Roland Rott sold 3,577 shares of the business’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 sale, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On GE HealthCare Technologies

A number of large investors have recently added to or reduced their stakes in the business. Quent Capital LLC raised its holdings in GE HealthCare Technologies by 18.4% during the 3rd quarter. Quent Capital LLC now owns 766 shares of the company’s stock valued at $72,000 after buying an additional 119 shares during the last quarter. Greenleaf Trust boosted its holdings in shares of GE HealthCare Technologies by 1.7% during the third quarter. Greenleaf Trust now owns 7,619 shares of the company’s stock worth $715,000 after purchasing an additional 124 shares during the period. Westside Investment Management Inc. grew its stake in shares of GE HealthCare Technologies by 32.0% in the third quarter. Westside Investment Management Inc. now owns 516 shares of the company’s stock worth $48,000 after purchasing an additional 125 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in GE HealthCare Technologies by 8.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company’s stock valued at $135,000 after purchasing an additional 127 shares during the period. Finally, Quarry LP raised its position in GE HealthCare Technologies by 28.3% during the 2nd quarter. Quarry LP now owns 594 shares of the company’s stock valued at $46,000 after purchasing an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

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.