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

GE HealthCare Technologies Inc. (NASDAQ:GEHC) announced 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 dividend on an annualized basis 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% meaning its dividend is sufficiently covered by earnings. Equities 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 Up 0.7 %

Shares of GEHC stock opened at $86.70 on Tuesday. The firm has a market capitalization of $39.56 billion, a P/E ratio of 28.52, a PEG ratio of 3.00 and a beta of 0.95. The firm’s fifty day moving average price is $88.47 and its two-hundred day moving average price is $77.47. 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.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.07 by $0.11. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.09 billion. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.31 earnings per share. On average, equities analysts predict that GE HealthCare Technologies will post 4.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Legal & General Group Plc increased its position in GE HealthCare Technologies by 26.3% in the 4th quarter. Legal & General Group Plc now owns 3,132,391 shares of the company’s stock valued at $242,197,000 after acquiring an additional 653,124 shares during the period. Barclays PLC lifted its holdings in GE HealthCare Technologies by 34.3% in the fourth quarter. Barclays PLC now owns 1,621,076 shares of the company’s stock valued at $125,342,000 after buying an additional 414,318 shares during the period. Nuveen Asset Management LLC bought a new position in shares of GE HealthCare Technologies in the 2nd quarter worth about $112,365,000. Trian Fund Management L.P. bought a new stake in shares of GE HealthCare Technologies during the 2nd quarter valued at about $109,092,000. Finally, Holocene Advisors LP bought a new stake in GE HealthCare Technologies in the second quarter worth approximately $89,263,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GEHC shares. Evercore ISI raised their price target on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Mizuho lifted their price target on GE HealthCare Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Citigroup raised their price target 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 started coverage on shares of GE HealthCare Technologies in a report on Thursday, February 15th. They set a “buy” rating and a $100.00 target price on the stock. Finally, Argus boosted their price target on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.