GE HealthCare Technologies Inc. (NASDAQ:GEHC) Sees Large Growth in Short Interest

GE HealthCare Technologies Inc. (NASDAQ:GEHC) saw a large 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. Approximately 2.1% of the company’s stock are sold short. Based on an average daily trading volume, of 3,250,000 shares, the days-to-cover ratio is currently 2.8 days.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the stock in a transaction dated 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 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 available at this link. 0.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On GE HealthCare Technologies

Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of GE HealthCare Technologies by 29.8% in the third quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company’s stock valued at $209,624,000 after acquiring an additional 512,778 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in GE HealthCare Technologies by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after purchasing an additional 19,010 shares in the last quarter. Retirement Systems of Alabama increased its position in GE HealthCare Technologies by 7.3% during the 3rd quarter. Retirement Systems of Alabama now owns 100,505 shares of the company’s stock worth $9,432,000 after purchasing an additional 6,862 shares during the period. Tidal Investments LLC raised its stake in shares of GE HealthCare Technologies by 32.5% during the 3rd quarter. Tidal Investments LLC now owns 23,715 shares of the company’s stock worth $2,226,000 after buying an additional 5,819 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of GE HealthCare Technologies by 150.2% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 11,278 shares of the company’s stock valued at $1,058,000 after buying an additional 6,770 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Down 0.5 %

Shares of NASDAQ:GEHC opened at $78.18 on Thursday. 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 current ratio of 1.23 and a quick ratio of 0.98. The stock has a market cap of $35.72 billion, a P/E ratio of 21.48, a P/E/G ratio of 2.96 and a beta of 1.07. The firm has a fifty day moving average price of $82.82 and a 200 day moving average price of $83.92.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (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 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 company posted $0.99 earnings per share. The business’s revenue was up .9% on a year-over-year basis. Sell-side analysts predict that GE HealthCare Technologies will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The company 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 $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.18%. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.85%.

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.