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

GE HealthCare Technologies Inc. (NASDAQ:GEHC) was the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 10,950,000 shares, a drop of 10.0% from the March 31st total of 12,170,000 shares. Based on an average trading volume of 3,490,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 2.6% of the shares of the company are short sold.

Institutional Trading of GE HealthCare Technologies

A number of large investors have recently made changes to their positions in GEHC. AE Wealth Management LLC increased its holdings in shares of GE HealthCare Technologies by 4.0% in the 3rd quarter. AE Wealth Management LLC now owns 10,810 shares of the company’s stock worth $735,000 after buying an additional 420 shares during the last quarter. Private Trust Co. NA grew its holdings in GE HealthCare Technologies by 53.9% during the 3rd quarter. Private Trust Co. NA now owns 1,808 shares of the company’s stock valued at $123,000 after purchasing an additional 633 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in GE HealthCare Technologies by 7.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 164,495 shares of the company’s stock valued at $11,192,000 after purchasing an additional 10,705 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in GE HealthCare Technologies by 3.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 89,461 shares of the company’s stock valued at $6,087,000 after purchasing an additional 3,368 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in GE HealthCare Technologies during the 3rd quarter valued at about $31,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GEHC. HSBC began coverage on shares of GE HealthCare Technologies in a research note on Thursday, February 15th. They set a “buy” rating and a $100.00 price target on the stock. Evercore ISI lifted their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Argus lifted their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Morgan Stanley lifted their target price on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Finally, Citigroup lifted their target price on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $95.09.

GE HealthCare Technologies Stock Up 0.2 %

Shares of GEHC stock opened at $86.38 on Monday. The stock has a market cap of $39.42 billion, a P/E ratio of 28.56, a PEG ratio of 3.00 and a beta of 0.95. GE HealthCare Technologies has a 52 week low of $62.35 and a 52 week high of $94.50. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The company’s fifty day simple moving average is $88.92 and its two-hundred day simple moving average is $78.59.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the previous year, the firm posted $1.31 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts predict that GE HealthCare Technologies will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be issued a $0.03 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.97%.

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.