GE HealthCare Technologies Inc. Announces Quarterly Dividend of $0.04 (NASDAQ:GEHC)

GE HealthCare Technologies Inc. (NASDAQ:GEHC) announced a quarterly dividend on Thursday, March 27th, RTT News reports. Investors of record on Friday, April 25th will be paid a dividend of 0.035 per share on Thursday, May 15th. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%.

GE HealthCare Technologies has a payout ratio of 2.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect GE HealthCare Technologies to earn $5.20 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 2.7%.

GE HealthCare Technologies Stock Up 1.1 %

Shares of GEHC stock traded up $0.92 during mid-day trading on Thursday, reaching $81.92. 1,224,506 shares of the company’s stock traded hands, compared to its average volume of 2,814,196. The company’s 50-day moving average price is $86.86 and its 200-day moving average price is $85.93. GE HealthCare Technologies has a 12 month low of $74.51 and a 12 month high of $94.80. The company has a market cap of $37.46 billion, a P/E ratio of 18.94, a P/E/G ratio of 3.19 and a beta of 1.13. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.33 billion. On average, equities analysts expect that GE HealthCare Technologies will post 4.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GEHC shares. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Citigroup raised their target price on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. The Goldman Sachs Group upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $100.00 in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company upped their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.75.

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.