GE HealthCare Technologies Inc. (NASDAQ:GEHC) Sees Significant Decline in Short Interest

GE HealthCare Technologies Inc. (NASDAQ:GEHC) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 9,690,000 shares, a drop of 24.1% from the January 15th total of 12,760,000 shares. Based on an average trading volume of 3,060,000 shares, the days-to-cover ratio is presently 3.2 days. Approximately 2.2% of the shares of the stock are short sold.

Institutional Investors Weigh In On GE HealthCare Technologies

Several institutional investors have recently added to or reduced their stakes in GEHC. Fayez Sarofim & Co raised its stake in shares of GE HealthCare Technologies by 7.3% in the 4th quarter. Fayez Sarofim & Co now owns 9,150 shares of the company’s stock valued at $715,000 after purchasing an additional 625 shares during the period. Stifel Financial Corp grew its holdings in shares of GE HealthCare Technologies by 12.8% during the fourth quarter. Stifel Financial Corp now owns 296,491 shares of the company’s stock worth $23,180,000 after buying an additional 33,567 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in GE HealthCare Technologies by 110.8% in the 4th quarter. OneDigital Investment Advisors LLC now owns 29,081 shares of the company’s stock valued at $2,274,000 after buying an additional 15,283 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in GE HealthCare Technologies by 26.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 384,228 shares of the company’s stock valued at $30,031,000 after acquiring an additional 81,337 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in GE HealthCare Technologies by 104.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 38,136 shares of the company’s stock worth $2,981,000 after acquiring an additional 19,467 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GEHC has been the subject of several analyst reports. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Citigroup raised their price objective on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $97.31.

GE HealthCare Technologies Stock Down 1.5 %

Shares of NASDAQ GEHC opened at $92.08 on Friday. The firm has a 50 day moving average price of $83.81 and a 200 day moving average price of $85.44. 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 stock has a market cap of $42.07 billion, a P/E ratio of 25.30, a P/E/G ratio of 2.93 and a beta of 1.15. GE HealthCare Technologies has a 52-week low of $74.51 and a 52-week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.19. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. Analysts expect that GE HealthCare Technologies will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Tuesday, January 14th. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio is 3.85%.

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.