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

GE HealthCare Technologies Inc. (NASDAQ:GEHC) declared a quarterly dividend on Wednesday, June 26th, RTT News reports. Stockholders of record on Friday, July 19th will be given a dividend of 0.03 per share on Thursday, August 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%.

GE HealthCare Technologies has a dividend payout ratio of 2.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect GE HealthCare Technologies to earn $4.76 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 Price Performance

Shares of GEHC remained flat at $78.81 during trading hours on Wednesday. The stock had a trading volume of 655,644 shares, compared to its average volume of 3,138,902. GE HealthCare Technologies has a 52 week low of $62.35 and a 52 week high of $94.50. The company has a market cap of $35.97 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 2.83 and a beta of 1.22. The stock has a fifty day simple moving average of $80.25 and a two-hundred day simple moving average of $81.73. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, meeting analysts’ consensus estimates of $0.90. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.80 billion. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. On average, equities research analysts expect that GE HealthCare Technologies will post 4.27 EPS for the current year.

Insider Buying and Selling at GE HealthCare Technologies

In other news, insider Frank R. Jimenez purchased 1,315 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost of $76.52 per share, with a total value of $100,623.80. Following the completion of the transaction, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other GE HealthCare Technologies news, CTO Taha Kass-Hout sold 3,300 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total value of $259,710.00. Following the completion of the sale, the chief technology officer now owns 67,300 shares in the company, valued at approximately $5,296,510. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Frank R. Jimenez purchased 1,315 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, May 1st. The shares were bought at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the acquisition, the insider now owns 75,796 shares in the company, valued at $5,799,909.92. The disclosure for this purchase can be found here. Insiders have sold a total of 90,482 shares of company stock worth $7,369,137 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GEHC shares. Mizuho reduced their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Bank of America dropped their target price on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Evercore ISI raised their price objective on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Argus upped their price target 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. Finally, The Goldman Sachs Group started coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target for the company. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.09.

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.