GE HealthCare Technologies Inc. (NASDAQ:GEHC – Get Free Report) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 12,290,000 shares, a drop of 7.0% from the February 29th total of 13,210,000 shares. Based on an average trading volume of 3,500,000 shares, the short-interest ratio is presently 3.5 days. Currently, 2.9% of the company’s shares are sold short.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. First Command Advisory Services Inc. boosted its stake in shares of GE HealthCare Technologies by 36,900.0% during the 3rd quarter. First Command Advisory Services Inc. now owns 370 shares of the company’s stock worth $25,000 after acquiring an additional 369 shares during the period. Pin Oak Investment Advisors Inc. acquired a new stake in GE HealthCare Technologies during the 2nd quarter worth approximately $25,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in GE HealthCare Technologies during the 3rd quarter worth approximately $26,000. Legacy Financial Group LLC acquired a new stake in GE HealthCare Technologies during the 3rd quarter worth approximately $26,000. Finally, OFI Invest Asset Management acquired a new stake in GE HealthCare Technologies during the 3rd quarter worth approximately $26,000. 82.06% of the stock is currently owned by institutional investors.
GE HealthCare Technologies Stock Up 0.7 %
GEHC stock opened at $90.91 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The business has a 50 day moving average price of $85.38 and a two-hundred day moving average price of $75.82. The company has a market cap of $41.40 billion, a price-to-earnings ratio of 30.10, a P/E/G ratio of 3.16 and a beta of 0.97. GE HealthCare Technologies has a twelve month low of $62.35 and a twelve month high of $94.50.
GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last issued its earnings results on Tuesday, February 6th. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.07 by $0.11. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the previous year, the company posted $1.31 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts anticipate that GE HealthCare Technologies will post 4.3 EPS for the current fiscal year.
GE HealthCare Technologies Announces Dividend
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. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.13%. GE HealthCare Technologies’s dividend payout ratio is currently 3.97%.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and raised their price target for the company from $66.00 to $88.00 in a report on Monday, February 12th. HSBC assumed coverage on GE HealthCare Technologies in a report on Thursday, February 15th. They issued a “buy” rating and a $100.00 price target on the stock. Mizuho raised their price target on GE HealthCare Technologies from $94.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Finally, Morgan Stanley increased their target price on GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.73.
Get Our Latest Stock Analysis on GE HealthCare Technologies
About GE HealthCare Technologies
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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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