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

GE HealthCare Technologies Inc. (NASDAQ:GEHC) declared a quarterly dividend on Friday, March 22nd, Zacks reports. Stockholders 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 dividend yield of 0.14%. The ex-dividend date is Thursday, April 18th.

GE HealthCare Technologies has a dividend payout ratio of 2.5% meaning 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 Stock Down 0.2 %

Shares of NASDAQ GEHC opened at $86.13 on Tuesday. The firm has a market capitalization of $39.30 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 3.00 and a beta of 0.95. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 1.18. GE HealthCare Technologies has a 1 year low of $62.35 and a 1 year high of $94.50. The firm’s 50-day moving average is $88.47 and its 200-day moving average is $77.47.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Tuesday, February 6th. The company reported $1.18 earnings per share 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 business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter last year, the firm earned $1.31 EPS. GE HealthCare Technologies’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts expect that GE HealthCare Technologies will post 4.3 EPS for the current year.

Hedge Funds Weigh In On GE HealthCare Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. bought a new position in GE HealthCare Technologies during the second quarter worth $25,000. LM Advisors LLC bought a new position in GE HealthCare Technologies during the fourth quarter worth $27,000. Resources Management Corp CT ADV bought a new position in GE HealthCare Technologies during the second quarter worth $28,000. PCA Investment Advisory Services Inc. bought a new position in GE HealthCare Technologies during the second quarter worth $40,000. Finally, Laurel Wealth Advisors LLC bought a new position in GE HealthCare Technologies during the second quarter worth $45,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on GEHC shares. Argus lifted their price objective on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. HSBC started coverage on shares of GE HealthCare Technologies in a research note on Thursday, February 15th. They set a “buy” rating and a $100.00 price objective on the stock. UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $66.00 to $88.00 in a research note on Monday, February 12th. Evercore ISI lifted their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Citigroup raised their target price on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.