GE HealthCare Technologies Inc. (NASDAQ:GEHC) Short Interest Up 5.3% in November

GE HealthCare Technologies Inc. (NASDAQ:GEHC) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 8,720,000 shares, an increase of 5.3% from the October 31st total of 8,280,000 shares. Based on an average daily volume of 3,280,000 shares, the days-to-cover ratio is presently 2.7 days. Currently, 2.0% of the shares of the company are sold short.

Insider Transactions at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the sale, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On GE HealthCare Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEHC. Atria Investments Inc bought a new position in shares of GE HealthCare Technologies during the 1st quarter valued at $1,300,000. Cetera Investment Advisers boosted its stake in shares of GE HealthCare Technologies by 569.9% during the 1st quarter. Cetera Investment Advisers now owns 68,474 shares of the company’s stock worth $6,225,000 after acquiring an additional 58,252 shares in the last quarter. Cetera Advisors LLC boosted its stake in shares of GE HealthCare Technologies by 71.7% during the 1st quarter. Cetera Advisors LLC now owns 26,132 shares of the company’s stock worth $2,376,000 after acquiring an additional 10,908 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of GE HealthCare Technologies by 191.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,463 shares of the company’s stock valued at $133,000 after acquiring an additional 961 shares during the last quarter. Finally, DNB Asset Management AS lifted its holdings in GE HealthCare Technologies by 13.9% in the 2nd quarter. DNB Asset Management AS now owns 68,531 shares of the company’s stock worth $5,340,000 after purchasing an additional 8,343 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Down 1.1 %

GEHC stock traded down $0.95 during midday trading on Tuesday, reaching $82.13. The company had a trading volume of 936,631 shares, compared to its average volume of 3,058,474. The company has a 50 day moving average of $87.78 and a two-hundred day moving average of $83.65. The company has a market capitalization of $37.52 billion, a P/E ratio of 22.81, a PEG ratio of 2.98 and a beta of 1.08. GE HealthCare Technologies has a 1 year low of $67.00 and a 1 year high of $94.55. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period last year, the company earned $0.99 earnings per share. GE HealthCare Technologies’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts expect that GE HealthCare Technologies will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be issued a $0.035 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio is currently 3.30%.

Analyst Ratings Changes

A number of research analysts recently issued reports on GEHC shares. Stifel Nicolaus lifted their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 target price for the company. Wells Fargo & Company upped their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus price target of $95.46.

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.