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

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

GE HealthCare Technologies Price Performance

NASDAQ GEHC opened at $83.94 on Wednesday. GE HealthCare Technologies has a 52 week low of $62.35 and a 52 week high of $94.50. The company has a market cap of $38.32 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The firm’s 50-day simple moving average is $80.28 and its two-hundred day simple moving average is $83.31.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $4.88 billion. During the same period in the prior year, the firm posted $0.92 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. Research analysts predict that GE HealthCare Technologies will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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

Insider Transactions at GE HealthCare Technologies

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

Institutional Investors Weigh In On GE HealthCare Technologies

A number of institutional investors and hedge funds have recently modified their holdings of GEHC. Pathway Financial Advisers LLC purchased a new stake in shares of GE HealthCare Technologies in the first quarter worth about $25,000. Fred Alger Management LLC bought a new position in shares of GE HealthCare Technologies in the second quarter worth approximately $26,000. BNP Paribas bought a new position in shares of GE HealthCare Technologies in the first quarter worth approximately $30,000. Sachetta LLC bought a new position in shares of GE HealthCare Technologies in the fourth quarter worth approximately $31,000. Finally, Rise Advisors LLC increased its position in shares of GE HealthCare Technologies by 241.4% in the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after purchasing an additional 239 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GEHC shares. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Stifel Nicolaus started coverage on shares of GE HealthCare Technologies in a report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price target on the stock. Mizuho cut their price target on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. 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 on the stock. Finally, Bank of America cut their price target on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average target price of $95.00.

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.