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 November. As of November 15th, there was short interest totalling 8,720,000 shares, a growth of 5.3% from the October 31st total of 8,280,000 shares. Currently, 2.0% of the company’s stock are sold short. Based on an average trading volume of 3,280,000 shares, the short-interest ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

GEHC has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus increased their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. Evercore ISI boosted their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their target price for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. 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 research note on Wednesday, September 18th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.46.

GE HealthCare Technologies Stock Down 0.6 %

GEHC opened at $82.57 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $37.72 billion, a PE ratio of 22.68, a PEG ratio of 2.97 and a beta of 1.07. GE HealthCare Technologies has a 1-year low of $67.00 and a 1-year high of $94.55. The firm’s 50 day simple moving average is $87.62 and its two-hundred day simple moving average is $83.67.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.06 by $0.08. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 earnings per share. As a group, equities analysts forecast that GE HealthCare Technologies will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. GE HealthCare Technologies’s payout ratio is 3.30%.

Insiders Place Their Bets

In other news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On GE HealthCare Technologies

Large investors have recently made changes to their positions in the business. State Street Corp boosted its stake in GE HealthCare Technologies by 7.8% in the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after purchasing an additional 1,347,114 shares during the period. Geode Capital Management LLC boosted its position in shares of GE HealthCare Technologies by 7.2% during the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after acquiring an additional 733,819 shares during the last quarter. D1 Capital Partners L.P. purchased a new position in GE HealthCare Technologies during the third quarter valued at $268,159,000. Charles Schwab Investment Management Inc. lifted its stake in GE HealthCare Technologies by 12.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after purchasing an additional 290,019 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new position in GE HealthCare Technologies during the 3rd quarter valued at approximately $208,513,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

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.