GE HealthCare Technologies Inc. (NASDAQ:GEHC - Get Free Report) announced a quarterly dividend on Tuesday, July 1st, RTT News reports. Investors of record on Friday, July 25th will be given a dividend of 0.035 per share on Friday, August 15th. This represents a $0.14 annualized dividend and a dividend yield of 0.18%.
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 $5.20 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 Performance
NASDAQ:GEHC traded up $1.88 during mid-day trading on Tuesday, reaching $75.95. The company's stock had a trading volume of 3,264,796 shares, compared to its average volume of 3,511,475. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. The stock has a market cap of $34.78 billion, a P/E ratio of 15.99, a PEG ratio of 2.51 and a beta of 1.14. The firm's fifty day moving average price is $70.87 and its two-hundred day moving average price is $77.54. GE HealthCare Technologies has a 12-month low of $57.65 and a 12-month high of $94.80.
GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that GE HealthCare Technologies will post 4.68 EPS for the current fiscal year.
GE HealthCare Technologies declared that its board has initiated a share buyback program on Wednesday, April 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.
Hedge Funds Weigh In On GE HealthCare Technologies
An institutional investor recently bought a new position in GE HealthCare Technologies stock. Acadian Asset Management LLC bought a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,216 shares of the company's stock, valued at approximately $259,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Piper Sandler reduced their price objective on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. The Goldman Sachs Group lowered their price objective on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the stock a "buy" rating in a report on Monday, April 14th. Finally, Morgan Stanley reduced their target price on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $88.27.
Check Out Our Latest Stock Analysis on GEHC
About GE HealthCare Technologies
(
Get Free Report)
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.
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