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

GE HealthCare Technologies Inc. (NASDAQ:GEHC) declared a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Shareholders of record on Tuesday, January 14th will be given a dividend of 0.035 per share on Friday, February 14th. This represents a $0.14 dividend on an annualized basis and a 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 payout ratio of 3.0% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

GEHC stock opened at $82.66 on Tuesday. The firm has a market cap of $37.76 billion, a P/E ratio of 22.71, a P/E/G ratio of 2.95 and a beta of 1.24. The stock’s 50 day simple moving average is $88.27 and its 200 day simple moving average is $83.62. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies has a 12-month low of $66.39 and a 12-month high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $4.87 billion. During the same period last year, the firm posted $0.99 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities research analysts predict that GE HealthCare Technologies will post 4.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GEHC shares. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Evercore ISI increased their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average price target of $94.36.

Insider Transactions at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the business’s 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 owns 24,298 shares in the company, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is owned by insiders.

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.