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

GE HealthCare Technologies Inc. (NASDAQ:GEHC) announced 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 annualized dividend and a yield of 0.15%.

GE HealthCare Technologies has a payout ratio of 2.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 0.6 %

GE HealthCare Technologies stock traded up $0.43 during mid-day trading on Thursday, reaching $78.43. The stock had a trading volume of 234,533 shares, compared to its average volume of 3,129,685. GE HealthCare Technologies has a fifty-two week low of $62.35 and a fifty-two week high of $94.50. The stock’s 50-day simple moving average is $80.10 and its 200-day simple moving average is $81.70. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06. The firm has a market capitalization of $35.80 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 2.83 and a beta of 1.22.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.90. The business had revenue of $4.65 billion during 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 company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. On average, sell-side analysts forecast that GE HealthCare Technologies will post 4.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GEHC has been the topic of several recent analyst reports. The Goldman Sachs Group assumed coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective on the stock. Citigroup upped their price objective on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Argus boosted their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Bank of America decreased their price target on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Finally, Mizuho cut their price objective on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.09.

Insider Activity at GE HealthCare Technologies

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

About GE HealthCare Technologies

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.