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

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on GEHC shares. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Wednesday, September 18th. Finally, Stifel Nicolaus raised their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.46.

Insider Buying and Selling

In related news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. LGT Financial Advisors LLC raised its holdings in shares of GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after buying an additional 251 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of GE HealthCare Technologies during the third quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of GE HealthCare Technologies during the third quarter worth $26,000. Darwin Wealth Management LLC purchased a new position in shares of GE HealthCare Technologies in the third quarter valued at $31,000. Finally, Continuum Advisory LLC grew its holdings in GE HealthCare Technologies by 101.8% during the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock valued at $31,000 after purchasing an additional 168 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

GEHC opened at $78.18 on Thursday. The stock has a market capitalization of $35.72 billion, a PE ratio of 21.48, a P/E/G ratio of 2.96 and a beta of 1.07. GE HealthCare Technologies has a 1 year low of $71.31 and a 1 year high of $94.55. 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 company’s 50 day simple moving average is $82.82 and its 200 day simple moving average is $83.92.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating 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 firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter last year, the firm posted $0.99 earnings per share. GE HealthCare Technologies’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side 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. Investors of record on Tuesday, January 14th will be issued a $0.035 dividend. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is currently 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.