GE HealthCare Technologies Inc. (NASDAQ:GEHC) Increases Dividend to $0.04 Per Share

GE HealthCare Technologies Inc. (NASDAQ:GEHC) declared a quarterly dividend on Tuesday, September 22nd. Shareholders of record on Friday, October 23rd will be paid a dividend of 0.04 per share on Friday, November 13th. This represents a c) annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, October 23rd. This is a 14.3% increase from GE HealthCare Technologies’s previous quarterly dividend of $0.04.

GE HealthCare Technologies has a payout ratio of 3.0% meaning its dividend is sufficiently covered by earnings. Analysts expect GE HealthCare Technologies to earn $5.41 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 2.6%.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC traded down $0.50 on Wednesday, reaching $65.77. The company’s stock had a trading volume of 351,440 shares, compared to its average volume of 4,290,380. GE HealthCare Technologies has a 52-week low of $58.75 and a 52-week high of $89.77. The stock has a market capitalization of $29.71 billion, a P/E ratio of 15.07, a PEG ratio of 1.71 and a beta of 0.70. The stock’s 50-day moving average is $68.38 and its two-hundred day moving average is $67.46. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the previous year, the firm posted $1.06 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that GE HealthCare Technologies will post 4.93 EPS for the current year.

Institutional Trading of GE HealthCare Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Andra AP fonden grew its position in GE HealthCare Technologies by 8,646.2% during the second quarter. Andra AP fonden now owns 113,700 shares of the company’s stock worth $7,278,000 after buying an additional 112,400 shares during the period. State Street Corp increased its holdings in GE HealthCare Technologies by 1.6% in the second quarter. State Street Corp now owns 20,861,566 shares of the company’s stock valued at $1,335,349,000 after buying an additional 323,090 shares in the last quarter. Anchor Investment Management LLC lifted its position in shares of GE HealthCare Technologies by 10.5% during the 2nd quarter. Anchor Investment Management LLC now owns 2,804 shares of the company’s stock valued at $179,000 after acquiring an additional 266 shares during the period. Core Capital Management & Research inc. acquired a new stake in shares of GE HealthCare Technologies during the 2nd quarter valued at approximately $100,000. Finally, Community Bank of Raymore boosted its stake in shares of GE HealthCare Technologies by 30.4% during the 2nd quarter. Community Bank of Raymore now owns 20,595 shares of the company’s stock worth $1,318,000 after acquiring an additional 4,800 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology, pharmaceutical diagnostics and digital solutions company headquartered in Chicago, Illinois. The company provides products and services designed to support healthcare providers across diagnostic imaging, clinical care and treatment planning.

Its portfolio includes imaging systems such as magnetic resonance imaging, computed tomography, molecular imaging, X-ray and surgical imaging equipment. GE HealthCare also offers ultrasound systems, patient monitoring and care solutions, anesthesia delivery and respiratory care products, maternal and infant care technologies, and healthcare information technology.

The company’s Pharmaceutical Diagnostics business develops and supplies contrast media and radiopharmaceuticals used to enhance medical imaging and support the detection and monitoring of disease.