GE HealthCare Technologies Inc. (GEHC) to Distribute Quarterly Dividend of $0.03 on August 15th

GE HealthCare Technologies Inc. (NASDAQ:GEHC) announced a quarterly dividend on Wednesday, June 26th, RTT News reports. Shareholders 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 yield of 0.15%.

GE HealthCare Technologies has a payout ratio of 2.5% indicating that 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 Stock Up 1.1 %

NASDAQ GEHC opened at $78.82 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. The stock’s 50 day moving average is $79.98 and its two-hundred day moving average is $81.68. The company has a market capitalization of $35.98 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 2.81 and a beta of 1.22. GE HealthCare Technologies has a 1-year low of $62.35 and a 1-year high of $94.50.

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

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, insider Frank R. Jimenez bought 1,315 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was bought at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the transaction, the insider now owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Frank R. Jimenez acquired 1,315 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the transaction, the insider now directly owns 75,796 shares in the company, valued at $5,799,909.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jan Makela sold 20,227 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $81.57, for a total transaction of $1,649,916.39. Following the completion of the sale, the chief executive officer now owns 63,348 shares of the company’s stock, valued at approximately $5,167,296.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,482 shares of company stock worth $7,369,137. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Argus boosted their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Citigroup boosted their target price on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group initiated coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 target price on the stock. Bank of America dropped their price objective on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Finally, Mizuho dropped their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company 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.