Short Interest in GE HealthCare Technologies Inc. (NASDAQ:GEHC) Declines By 6.7%

GE HealthCare Technologies Inc. (NASDAQ:GEHC) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 11,860,000 shares, a decline of 6.7% from the July 15th total of 12,710,000 shares. Based on an average daily trading volume, of 2,670,000 shares, the days-to-cover ratio is currently 4.4 days. Currently, 2.8% of the company’s shares are short sold.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $83.94 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm’s fifty day moving average price is $80.28 and its two-hundred day moving average price is $83.31. GE HealthCare Technologies has a 1 year low of $62.35 and a 1 year high of $94.50. The firm has a market capitalization of $38.32 billion, a P/E ratio of 24.54, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.88 billion. During the same period in the prior year, the firm posted $0.92 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts anticipate that GE HealthCare Technologies will post 4.27 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Friday, July 19th. GE HealthCare Technologies’s payout ratio is presently 3.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GEHC shares. The Goldman Sachs Group started coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target for the company. Bank of America reduced their price target on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Mizuho cut their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, Stifel Nicolaus began coverage on shares of GE HealthCare Technologies in a research report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.00.

Insider Transactions at GE HealthCare Technologies

In related news, CTO Taha Kass-Hout sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the transaction, the chief technology officer now owns 67,300 shares in the company, valued at $5,296,510. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CTO Taha Kass-Hout sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the transaction, the chief technology officer now owns 67,300 shares in the company, valued at $5,296,510. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GE HealthCare Technologies

Large investors have recently modified their holdings of the stock. Jennison Associates LLC raised its position in shares of GE HealthCare Technologies by 49.4% in the fourth quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock valued at $93,467,000 after purchasing an additional 399,961 shares during the period. South Dakota Investment Council raised its position in shares of GE HealthCare Technologies by 272.1% in the fourth quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock valued at $7,598,000 after purchasing an additional 71,857 shares during the period. US Bancorp DE raised its position in shares of GE HealthCare Technologies by 83.4% in the fourth quarter. US Bancorp DE now owns 146,524 shares of the company’s stock valued at $11,329,000 after purchasing an additional 66,638 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of GE HealthCare Technologies by 23.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 97,127 shares of the company’s stock valued at $7,510,000 after acquiring an additional 18,634 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new position in shares of GE HealthCare Technologies in the first quarter valued at about $4,273,000. 82.06% of the stock is owned by institutional investors.

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.