GE HealthCare Technologies Inc. (NASDAQ:GEHC) Sees Significant Decrease in Short Interest

GE HealthCare Technologies Inc. (NASDAQ:GEHC) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 8,220,000 shares, a drop of 16.2% from the March 15th total of 9,810,000 shares. Based on an average trading volume of 3,690,000 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.8% of the shares of the company are short sold.

Institutional Trading of GE HealthCare Technologies

Hedge funds have recently made changes to their positions in the company. Capital Research Global Investors raised its stake in shares of GE HealthCare Technologies by 4.5% in the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company’s stock valued at $4,755,851,000 after acquiring an additional 2,608,066 shares in the last quarter. Vanguard Group Inc. lifted its stake in GE HealthCare Technologies by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after buying an additional 2,155,429 shares during the last quarter. Geode Capital Management LLC grew its position in GE HealthCare Technologies by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company’s stock worth $882,777,000 after purchasing an additional 342,819 shares during the last quarter. Invesco Ltd. grew its stake in shares of GE HealthCare Technologies by 18.4% in the 4th quarter. Invesco Ltd. now owns 8,067,927 shares of the company’s stock valued at $630,751,000 after purchasing an additional 1,252,613 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of GE HealthCare Technologies in the 4th quarter worth $488,531,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

GE HealthCare Technologies Stock Up 2.8 %

NASDAQ:GEHC traded up $1.70 during mid-day trading on Tuesday, reaching $62.18. The company’s stock had a trading volume of 1,645,236 shares, compared to its average volume of 3,191,189. The firm has a market capitalization of $28.47 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a fifty day moving average of $78.76 and a 200-day moving average of $82.77. GE HealthCare Technologies has a 1 year low of $57.65 and a 1 year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.33 billion. Equities research analysts forecast that GE HealthCare Technologies will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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

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.