GE HealthCare Technologies Inc. (NASDAQ:GEHC) Short Interest Up 12.4% in May

GE HealthCare Technologies Inc. (NASDAQ:GEHCGet Free Report) was the recipient of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 11,640,000 shares, a growth of 12.4% from the May 15th total of 10,360,000 shares. Based on an average daily volume of 3,000,000 shares, the short-interest ratio is currently 3.9 days. Currently, 2.7% of the company’s shares are sold short.

Insider Transactions at GE HealthCare Technologies

In other news, insider Frank R. Jimenez purchased 1,315 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the transaction, the insider now owns 75,796 shares of the company’s stock, valued at $5,799,909.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CTO Taha Kass-Hout sold 3,300 shares of the business’s stock in a transaction 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 transaction, the chief technology officer now owns 67,300 shares in the company, valued at approximately $5,296,510. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Frank R. Jimenez bought 1,315 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the transaction, the insider now directly owns 75,796 shares in the company, valued at $5,799,909.92. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 90,482 shares of company stock worth $7,369,137. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On GE HealthCare Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors lifted its holdings in shares of GE HealthCare Technologies by 5.2% in the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after buying an additional 2,647,204 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of GE HealthCare Technologies by 9.2% in the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after buying an additional 4,107,746 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of GE HealthCare Technologies by 9.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock worth $426,186,000 after buying an additional 471,910 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of GE HealthCare Technologies by 21.4% in the third quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock worth $343,484,000 after buying an additional 889,297 shares in the last quarter. Finally, Northern Trust Corp raised its stake in GE HealthCare Technologies by 8.9% in the third quarter. Northern Trust Corp now owns 4,205,506 shares of the company’s stock valued at $286,143,000 after purchasing an additional 342,040 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

GEHC traded up $0.95 during trading on Tuesday, hitting $78.50. 684,270 shares of the company traded hands, compared to its average volume of 3,147,158. The firm has a market cap of $35.83 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 2.75 and a beta of 1.22. The stock’s fifty day moving average is $81.17 and its 200 day moving average is $81.29. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. GE HealthCare Technologies has a one year low of $62.35 and a one year high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, meeting the consensus estimate of $0.90. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.80 billion. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, equities analysts predict that GE HealthCare Technologies will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GEHC. Argus boosted their target price 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, April 1st. Citigroup boosted their target price on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group started coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective on the stock. Bank of America lowered their price objective 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. Finally, Evercore ISI upped their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus price target of $94.09.

Check Out Our Latest Stock Report on GE HealthCare Technologies

About GE HealthCare Technologies

(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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