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

GE HealthCare Technologies Inc. (NASDAQ:GEHC) was the target of a significant growth in short interest during 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. Based on an average daily volume of 3,250,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 2.1% of the shares of the company are short sold.

Insider Transactions at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

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

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $78.18 on Thursday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. GE HealthCare Technologies has a fifty-two week low of $71.31 and a fifty-two week high of $94.55. The stock has a fifty day moving average of $82.82 and a two-hundred day moving average of $83.92. The company has a market capitalization of $35.72 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.96 and a beta of 1.07.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.08. The firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 EPS. On average, analysts anticipate that GE HealthCare Technologies will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be given 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 yield of 0.18%. GE HealthCare Technologies’s dividend payout ratio is 3.85%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GEHC shares. 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 target price for the company. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Wednesday, September 18th. 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 report on Monday, September 30th. Evercore ISI increased 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, UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.46.

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.