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

GE HealthCare Technologies Inc. (NASDAQ:GEHC) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 8,220,000 shares, a decline of 16.2% from the March 15th total of 9,810,000 shares. Based on an average daily volume of 3,690,000 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.8% of the shares of the stock are short sold.

Analyst Ratings Changes

GEHC has been the topic of a number of research reports. BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the stock a “buy” rating in a research report on Monday, April 14th. Citigroup raised their price target on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Wells Fargo & Company upped their price target on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $100.00 in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.27.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock traded down $1.91 during mid-day trading on Monday, reaching $60.46. 343,040 shares of the company’s stock were exchanged, compared to its average volume of 3,175,591. The business’s fifty day simple moving average is $79.26 and its 200 day simple moving average is $82.98. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies has a one year low of $57.65 and a one year high of $94.80. The firm has a market capitalization of $27.68 billion, a PE ratio of 13.97, a P/E/G ratio of 3.19 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.19. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. On average, sell-side analysts expect that GE HealthCare Technologies will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies’s payout ratio is currently 3.23%.

Institutional Trading of GE HealthCare Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CoreFirst Bank & Trust purchased a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $25,000. Runnymede Capital Advisors Inc. bought a new stake in GE HealthCare Technologies during the fourth quarter valued at $28,000. LGT Financial Advisors LLC grew its position in GE HealthCare Technologies by 46.2% during the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock worth $30,000 after buying an additional 123 shares in the last quarter. Accredited Wealth Management LLC bought a new position in GE HealthCare Technologies in the 4th quarter worth about $30,000. Finally, Ameriflex Group Inc. bought a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at about $31,000. 82.06% of the stock is currently owned by institutional investors.

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.