GE HealthCare Technologies Inc. (NASDAQ:GEHC) Announces Dividend Increase – $0.04 Per Share

GE HealthCare Technologies Inc. (NASDAQ:GEHC) declared a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Stockholders of record on Tuesday, January 14th will be paid a dividend of 0.035 per share on Friday, February 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Tuesday, January 14th. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03.

GE HealthCare Technologies has a dividend payout ratio of 3.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect GE HealthCare Technologies to earn $4.67 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 3.0%.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $82.66 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The company has a market capitalization of $37.76 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 2.95 and a beta of 1.24. The business’s 50-day moving average is $88.27 and its 200-day moving average is $83.62. GE HealthCare Technologies has a fifty-two week low of $66.39 and a fifty-two week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The company’s revenue was up .9% compared to the same quarter last year. Equities research analysts expect that GE HealthCare Technologies will post 4.3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

GEHC has been the topic of a number of research reports. Stifel Nicolaus increased their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Wells Fargo & Company upped their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Evercore ISI raised their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $94.36.

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.