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

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 of this dividend is Thursday, April 18th.

GE HealthCare Technologies has a payout ratio of 2.5% indicating that its dividend is sufficiently covered by earnings. 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 0.3 %

Shares of GEHC opened at $85.88 on Wednesday. GE HealthCare Technologies has a 12 month low of $62.35 and a 12 month high of $94.50. The firm’s 50 day moving average is $88.55 and its 200-day moving average is $77.60. The stock has a market capitalization of $39.19 billion, a PE ratio of 28.44, a P/E/G ratio of 3.00 and a beta of 0.94. 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 (NASDAQ:GEHC) last announced 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. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.09 billion. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $1.31 earnings per share. Equities research analysts forecast that GE HealthCare Technologies will post 4.3 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Argus lifted their price objective on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, April 1st. HSBC assumed coverage on shares of GE HealthCare Technologies in a research note on Thursday, February 15th. They issued a “buy” rating and a $100.00 price objective on the stock. Citigroup lifted their price objective 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. Evercore ISI boosted their target price 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, UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $66.00 to $88.00 in a research note on Monday, February 12th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average price target of $95.08.

Hedge Funds Weigh In On GE HealthCare Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. lifted its holdings in GE HealthCare Technologies by 29.1% in the fourth quarter. Harbour Investments Inc. now owns 2,759 shares of the company’s stock valued at $213,000 after buying an additional 622 shares during the period. Parkside Financial Bank & Trust acquired a new position in shares of GE HealthCare Technologies during the second quarter valued at about $144,000. IFP Advisors Inc acquired a new position in shares of GE HealthCare Technologies during the second quarter valued at about $123,000. SRS Capital Advisors Inc. acquired a new position in shares of GE HealthCare Technologies during the second quarter valued at about $93,000. Finally, Front Row Advisors LLC acquired a new position in shares of GE HealthCare Technologies during the second quarter valued at about $71,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

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.