GE HealthCare Technologies Inc. (NASDAQ:GEHC) Short Interest Down 7.0% in March

GE HealthCare Technologies Inc. (NASDAQ:GEHCGet Free Report) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 12,290,000 shares, a decrease of 7.0% from the February 29th total of 13,210,000 shares. Approximately 2.9% of the company’s shares are sold short. Based on an average daily trading volume, of 3,500,000 shares, the short-interest ratio is currently 3.5 days.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GEHC. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lifted their target price for the company from $66.00 to $88.00 in a report on Monday, February 12th. Morgan Stanley boosted their target price on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Mizuho increased their target price on shares of GE HealthCare Technologies from $94.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Argus lifted their price target on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday. Finally, HSBC assumed coverage on shares of GE HealthCare Technologies in a research report on Thursday, February 15th. They issued a “buy” rating and a $100.00 price objective for the company. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.45.

View Our Latest Analysis on GE HealthCare Technologies

GE HealthCare Technologies Price Performance

GEHC opened at $88.11 on Wednesday. GE HealthCare Technologies has a twelve month low of $62.35 and a twelve month high of $94.50. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 1.18. The firm has a market cap of $40.12 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 3.11 and a beta of 0.94. The company has a fifty day simple moving average of $85.97 and a 200 day simple moving average of $76.14.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last announced its earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.09 billion. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.31 earnings per share. Equities research analysts expect 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 paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.97%.

Institutional Trading of GE HealthCare Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Command Advisory Services Inc. increased its position in shares of GE HealthCare Technologies by 36,900.0% in the 3rd quarter. First Command Advisory Services Inc. now owns 370 shares of the company’s stock worth $25,000 after purchasing an additional 369 shares during the last quarter. Pin Oak Investment Advisors Inc. bought a new stake in GE HealthCare Technologies in the second quarter valued at about $25,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in GE HealthCare Technologies during the third quarter valued at approximately $26,000. Legacy Financial Group LLC bought a new position in GE HealthCare Technologies during the 3rd quarter worth approximately $26,000. Finally, OFI Invest Asset Management acquired a new position in shares of GE HealthCare Technologies in the 3rd quarter worth approximately $26,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Company Profile

(Get Free Report)

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.

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