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

GE HealthCare Technologies Inc. (NASDAQ:GEHC) announced a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Investors 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 yield of 0.17%. The ex-dividend date 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 Stock Performance

GE HealthCare Technologies stock opened at $82.51 on Wednesday. The business has a 50 day moving average of $88.27 and a 200-day moving average of $83.62. The company has a market capitalization of $37.70 billion, a P/E ratio of 22.67, a P/E/G ratio of 2.96 and a beta of 1.24. GE HealthCare Technologies has a 1 year low of $66.39 and a 1 year high of $94.55. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.08. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. GE HealthCare Technologies’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 earnings per share. On average, equities research analysts predict that GE HealthCare Technologies will post 4.3 earnings per share for the current year.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the transaction, the chief executive officer now owns 24,298 shares in the company, valued at $2,101,291.04. This represents a 12.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GEHC shares. JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective on the stock. Evercore ISI increased their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. 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 research note on Wednesday, September 18th. Wells Fargo & Company lifted their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus lifted their price objective 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. One investment 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’s stock. According to data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average price target of $94.36.

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.