GE HealthCare Technologies Inc. (NASDAQ:GEHC) Announces $0.04 Quarterly Dividend

GE HealthCare Technologies Inc. (NASDAQ:GEHC) declared a quarterly dividend on Tuesday, July 1st, RTT News reports. Investors of record on Friday, July 25th will be given a dividend of 0.035 per share on Friday, August 15th. This represents a $0.14 dividend on an annualized basis and a yield of 0.18%.

GE HealthCare Technologies has a dividend payout ratio of 3.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect GE HealthCare Technologies to earn $5.20 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 2.7%.

GE HealthCare Technologies Trading Up 0.2%

Shares of GEHC stock opened at $76.12 on Thursday. The business has a 50-day moving average price of $71.38 and a two-hundred day moving average price of $77.51. GE HealthCare Technologies has a 12-month low of $57.65 and a 12-month high of $94.80. The company has a quick ratio of 0.76, a current ratio of 0.98 and a debt-to-equity ratio of 0.73. The firm has a market cap of $34.85 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the firm posted $0.90 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. Equities analysts anticipate that GE HealthCare Technologies will post 4.68 EPS for the current fiscal year.

Institutional Investors Weigh In On GE HealthCare Technologies

An institutional investor recently raised its position in GE HealthCare Technologies stock. Empowered Funds LLC boosted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,848 shares of the company’s stock after purchasing an additional 1,665 shares during the quarter. Empowered Funds LLC’s holdings in GE HealthCare Technologies were worth $2,328,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GEHC. BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the stock a “buy” rating in a research report on Monday, April 14th. The Goldman Sachs Group cut their target price on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company lowered their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Evercore ISI cut their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Finally, Morgan Stanley decreased their price objective on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.27.

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.