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

GE HealthCare Technologies Inc. (NASDAQ:GEHC) announced a quarterly dividend on Friday, March 22nd, Zacks reports. Investors of record on Friday, April 19th will be paid a dividend of 0.03 per share on Wednesday, May 15th. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date is Thursday, April 18th.

GE HealthCare Technologies has a payout ratio of 2.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect GE HealthCare Technologies to earn $4.84 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 opened at $85.88 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 0.83. GE HealthCare Technologies has a 1-year low of $62.35 and a 1-year high of $94.50. The company has a market capitalization of $39.19 billion, a P/E ratio of 28.44, a P/E/G ratio of 3.00 and a beta of 0.94. The firm’s 50 day simple moving average is $88.55 and its two-hundred day simple moving average is $77.60.

GE HealthCare Technologies (NASDAQ:GEHC) last released 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 net margin of 8.02% and a return on equity of 25.58%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the previous year, the firm earned $1.31 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Research analysts expect that GE HealthCare Technologies will post 4.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Harbour Investments Inc. increased its stake in GE HealthCare Technologies by 29.1% in the 4th quarter. Harbour Investments Inc. now owns 2,759 shares of the company’s stock worth $213,000 after buying an additional 622 shares during the period. Parkside Financial Bank & Trust purchased a new position in GE HealthCare Technologies during the 2nd quarter valued at about $144,000. IFP Advisors Inc purchased a new position in GE HealthCare Technologies during the 2nd quarter valued at about $123,000. SRS Capital Advisors Inc. purchased a new position in GE HealthCare Technologies during the 2nd quarter valued at about $93,000. Finally, Front Row Advisors LLC purchased a new position in GE HealthCare Technologies during the 2nd quarter valued at about $71,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and upped their price target for the company from $66.00 to $88.00 in a research note on Monday, February 12th. Evercore ISI upped their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Mizuho upped their price target on shares of GE HealthCare Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Morgan Stanley upped their price target on shares of 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. Finally, Citigroup increased 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 note on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $95.08.

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.