GE HealthCare Technologies Inc. to Issue Quarterly Dividend of $0.03 (NASDAQ:GEHC)

GE HealthCare Technologies Inc. (NASDAQ:GEHC) declared a quarterly dividend on Wednesday, June 26th, RTT News reports. Shareholders of record on Friday, July 19th will be given a dividend of 0.03 per share on Thursday, August 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%.

GE HealthCare Technologies has a payout ratio of 2.5% meaning its dividend is sufficiently covered by earnings. Analysts expect GE HealthCare Technologies to earn $4.76 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 2.5%.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC remained flat at $78.81 during trading on Wednesday. 655,644 shares of the stock traded hands, compared to its average volume of 3,138,902. The business’s 50-day simple moving average is $80.25 and its two-hundred day simple moving average is $81.73. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06. GE HealthCare Technologies has a 52-week low of $62.35 and a 52-week high of $94.50. The stock has a market capitalization of $35.97 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 2.83 and a beta of 1.22.

GE HealthCare Technologies (NASDAQ:GEHC) last released its 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 business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 earnings per share. On average, equities research analysts predict that GE HealthCare Technologies will post 4.27 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Frank R. Jimenez bought 1,315 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average cost of $76.52 per share, with a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Taha Kass-Hout sold 3,300 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the transaction, the chief technology officer now owns 67,300 shares of the company’s stock, valued at $5,296,510. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Frank R. Jimenez acquired 1,315 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the purchase, the insider now directly owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The disclosure for this purchase can be found here. Insiders have sold a total of 90,482 shares of company stock worth $7,369,137 in the last quarter. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GEHC. Mizuho reduced their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Citigroup raised their target price on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Evercore ISI lifted their price objective on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. The Goldman Sachs Group initiated coverage on shares of GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target on the stock. Finally, Argus upped their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a report on Monday, April 1st. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.09.

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.