Short Interest in GE HealthCare Technologies Inc. (NASDAQ:GEHC) Declines By 9.2%

GE HealthCare Technologies Inc. (NASDAQ:GEHC) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 8,280,000 shares, a drop of 9.2% from the October 15th total of 9,120,000 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average trading volume of 2,870,000 shares, the short-interest ratio is currently 2.9 days.

GE HealthCare Technologies Stock Up 1.2 %

Shares of NASDAQ:GEHC traded up $0.96 during midday trading on Monday, hitting $82.72. The stock had a trading volume of 2,918,001 shares, compared to its average volume of 3,047,524. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The business’s 50-day simple moving average is $88.65 and its 200-day simple moving average is $83.55. GE HealthCare Technologies has a 12 month low of $66.39 and a 12 month high of $94.55. The company has a market cap of $37.79 billion, a P/E ratio of 22.73, a PEG ratio of 2.93 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the business earned $0.99 EPS. GE HealthCare Technologies’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts forecast that GE HealthCare Technologies will post 4.29 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio is 3.30%.

Insider Activity at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the company’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 completion of the sale, the chief executive officer now owns 24,298 shares in the company, valued at $2,101,291.04. This represents a 12.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GE HealthCare Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Quent Capital LLC grew its stake in GE HealthCare Technologies by 18.4% in the 3rd quarter. Quent Capital LLC now owns 766 shares of the company’s stock valued at $72,000 after buying an additional 119 shares during the last quarter. Greenleaf Trust boosted its stake in GE HealthCare Technologies by 1.7% in the 3rd quarter. Greenleaf Trust now owns 7,619 shares of the company’s stock valued at $715,000 after purchasing an additional 124 shares during the period. EverSource Wealth Advisors LLC grew its holdings in GE HealthCare Technologies by 8.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company’s stock valued at $135,000 after buying an additional 127 shares in the last quarter. Quarry LP increased its position in GE HealthCare Technologies by 28.3% during the 2nd quarter. Quarry LP now owns 594 shares of the company’s stock worth $46,000 after buying an additional 131 shares during the period. Finally, Harbour Investments Inc. raised its stake in GE HealthCare Technologies by 4.3% in the 3rd quarter. Harbour Investments Inc. now owns 3,164 shares of the company’s stock worth $297,000 after purchasing an additional 131 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GEHC shares. Evercore ISI increased their price target on 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 set a “neutral” rating and a $90.00 price objective on the stock. Wells Fargo & Company upped their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price target for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Finally, 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $94.36.

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.