Short Interest in GE HealthCare Technologies Inc. (NASDAQ:GEHC) Declines By 16.2%

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

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the stock a “buy” rating in a report on Monday, April 14th. Citigroup lifted their target price on GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and raised their price target 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 assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.27.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC traded up $1.70 during trading on Tuesday, reaching $62.18. 1,645,236 shares of the stock were exchanged, compared to its average volume of 3,191,189. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies has a 12 month low of $57.65 and a 12 month high of $94.80. The stock has a 50-day moving average price of $78.76 and a 200-day moving average price of $82.77. The firm has a market cap of $28.47 billion, a PE ratio of 14.34, a PEG ratio of 3.19 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.19. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. Research analysts expect that GE HealthCare Technologies will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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 paid 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 is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.23%.

Institutional Inflows and Outflows

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