Short Interest in GE HealthCare Technologies Inc. (NASDAQ:GEHC) Expands By 5.3%

GE HealthCare Technologies Inc. (NASDAQ:GEHC) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 8,720,000 shares, an increase of 5.3% from the October 31st total of 8,280,000 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average trading volume of 3,280,000 shares, the short-interest ratio is presently 2.7 days.

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of recent analyst reports. BTIG Research raised 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. Evercore ISI increased 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. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price for the company. Stifel Nicolaus increased their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company lifted their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.46.

GE HealthCare Technologies Stock Down 1.1 %

Shares of GE HealthCare Technologies stock traded down $0.95 during trading on Tuesday, reaching $82.13. The company had a trading volume of 936,631 shares, compared to its average volume of 3,058,474. The company has a market cap of $37.52 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. GE HealthCare Technologies has a fifty-two week low of $67.00 and a fifty-two week high of $94.55. The firm’s fifty day moving average is $87.78 and its 200-day moving average is $83.65. 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 (NASDAQ:GEHC) last released its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The company had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the business posted $0.99 EPS. GE HealthCare Technologies’s quarterly revenue was up .9% compared to the same quarter last year. On average, analysts anticipate that GE HealthCare Technologies will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed 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. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Tuesday, January 14th. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio is currently 3.30%.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the firm’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 sale, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GE HealthCare Technologies

A number of large investors have recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of 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 last quarter. Geode Capital Management LLC lifted its stake in GE HealthCare Technologies by 7.2% in the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock valued at $1,026,898,000 after buying an additional 733,819 shares during the last quarter. D1 Capital Partners L.P. bought a new position in shares of GE HealthCare Technologies during the third quarter worth about $268,159,000. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 acquiring an additional 290,019 shares during the period. Finally, Van ECK Associates Corp bought a new stake in GE HealthCare Technologies in the 3rd quarter valued at about $208,513,000. Institutional investors own 82.06% of the company’s stock.

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.