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. Shareholders 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 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 18th.

GE HealthCare Technologies has a dividend payout ratio of 2.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.2 %

Shares of GE HealthCare Technologies stock opened at $86.13 on Tuesday. GE HealthCare Technologies has a 12-month low of $62.35 and a 12-month high of $94.50. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 1.18. The stock has a market cap 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 50-day moving average of $88.47 and a two-hundred day moving average of $77.47.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same period last year, the company posted $1.31 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts anticipate that GE HealthCare Technologies will post 4.3 EPS for the current fiscal year.

Analyst Ratings Changes

GEHC has been the topic of a number of analyst reports. 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 research report on Wednesday, April 3rd. HSBC assumed coverage on shares of GE HealthCare Technologies in a report on Thursday, February 15th. They issued a “buy” rating and a $100.00 price target on the stock. Evercore ISI lifted their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Argus lifted their price target on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the company from $66.00 to $88.00 in a report on Monday, February 12th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Burford Brothers Inc. acquired a new stake in shares of GE HealthCare Technologies in the 4th quarter worth approximately $312,000. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of GE HealthCare Technologies in the 4th quarter worth approximately $223,000. Harbour Investments Inc. lifted its stake in shares of 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 acquiring an additional 622 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of GE HealthCare Technologies by 2.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 209,906 shares of the company’s stock worth $16,230,000 after acquiring an additional 4,115 shares during the period. Finally, Chartwell Investment Partners LLC lifted its stake in shares of GE HealthCare Technologies by 21.3% in the 4th quarter. Chartwell Investment Partners LLC now owns 19,210 shares of the company’s stock worth $1,485,000 after acquiring an additional 3,374 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

About GE HealthCare Technologies

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.