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

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. Approximately 2.0% of the shares of the company are short sold. Based on an average daily trading volume, of 3,280,000 shares, the days-to-cover ratio is currently 2.7 days.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $83.01 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies has a 1 year low of $67.00 and a 1 year high of $94.55. The company has a market cap of $37.92 billion, a PE ratio of 22.81, a PEG ratio of 2.97 and a beta of 1.07. The company’s 50-day moving average is $87.43 and its two-hundred day moving average is $83.67.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The business had revenue of $4.86 billion for 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%. GE HealthCare Technologies’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the company posted $0.99 EPS. Equities analysts anticipate that GE HealthCare Technologies will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently declared 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 dividend yield of 0.17%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.30%.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were 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. The trade was a 12.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

Institutional Trading of GE HealthCare Technologies

A number of hedge funds have recently modified their holdings of GEHC. LGT Financial Advisors LLC raised its position in shares of GE HealthCare Technologies by 1,673.3% in the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after acquiring an additional 251 shares during the period. Fred Alger Management LLC acquired a new stake in GE HealthCare Technologies during the 2nd quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new stake in GE HealthCare Technologies during the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in GE HealthCare Technologies during the 3rd quarter worth approximately $26,000. Finally, Elkhorn Partners Limited Partnership acquired a new stake in GE HealthCare Technologies during the 2nd quarter worth approximately $31,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GEHC shares. 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 target price on the stock. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Stifel Nicolaus upped their target price 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. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Wednesday, September 18th. Finally, Evercore ISI upped their target price 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.46.

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.