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

Key Points

• GE HealthCare Technologies declared a quarterly dividend of $0.04 per share, payable November 13 to shareholders of record October 23. The dividend implies an annualized payout of approximately $0.14–$0.16 per share and a yield of about 0.2%.
• The company’s latest quarterly results exceeded expectations, with adjusted EPS of $1.13 versus the $1.04 consensus and revenue of $5.29 billion, up 5.8% year over year.
• Analysts maintain a “Moderate Buy” consensus, with 11 Buy and 11 Hold ratings and an average price target of $78.39, compared with shares trading near $66.11.

GE HealthCare Technologies Inc. (NASDAQ:GEHC - Get Free Report) announced a quarterly dividend on Tuesday, September 22nd. Shareholders of record on Friday, October 23rd will be paid a dividend of 0.04 per share on Friday, November 13th. This represents a c) annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, October 23rd. This is a 14.3% increase from GE HealthCare Technologies's previous quarterly dividend of $0.04.

GE HealthCare Technologies has a dividend payout ratio of 3.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect GE HealthCare Technologies to earn $5.41 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 2.6%.

GE HealthCare Technologies Stock Down 0.2%

Shares of NASDAQ GEHC traded down $0.17 during mid-day trading on Wednesday, reaching $66.11. 224,997 shares of the company's stock were exchanged, compared to its average volume of 4,289,888. GE HealthCare Technologies has a twelve month low of $58.75 and a twelve month high of $89.77. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $29.86 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 1.71 and a beta of 0.70. The business has a fifty day simple moving average of $68.38 and a 200 day simple moving average of $67.46.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same period last year, the company posted $1.06 EPS. The business's quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts expect that GE HealthCare Technologies will post 4.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on GEHC shares. UBS Group lifted their price objective on shares of GE HealthCare Technologies from $67.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Weiss Ratings reissued a "hold (c-)" rating on shares of GE HealthCare Technologies in a research report on Wednesday, August 12th. Royal Bank Of Canada assumed coverage on GE HealthCare Technologies in a report on Tuesday, June 23rd. They issued an "outperform" rating and a $80.00 price objective for the company. The Goldman Sachs Group reiterated a "neutral" rating on shares of GE HealthCare Technologies in a report on Monday, June 8th. Finally, BTIG Research restated a "buy" rating and issued a $79.00 price target on shares of GE HealthCare Technologies in a research note on Thursday, September 17th. Eleven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $78.39.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology, pharmaceutical diagnostics and digital solutions company headquartered in Chicago, Illinois. The company provides products and services designed to support healthcare providers across diagnostic imaging, clinical care and treatment planning.

Its portfolio includes imaging systems such as magnetic resonance imaging, computed tomography, molecular imaging, X-ray and surgical imaging equipment. GE HealthCare also offers ultrasound systems, patient monitoring and care solutions, anesthesia delivery and respiratory care products, maternal and infant care technologies, and healthcare information technology.

The company's Pharmaceutical Diagnostics business develops and supplies contrast media and radiopharmaceuticals used to enhance medical imaging and support the detection and monitoring of disease.

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