Lazard Asset Management LLC Sells 34,308 Shares of GE HealthCare Technologies Inc. $GEHC

Lazard Asset Management LLC cut its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 390,065 shares of the company’s stock after selling 34,308 shares during the period. Lazard Asset Management LLC owned approximately 0.09% of GE HealthCare Technologies worth $27,765,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Laurel Wealth Advisors LLC purchased a new position in GE HealthCare Technologies in the 4th quarter worth about $26,000. Optima Capital LLC purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at about $27,000. Godfrey Financial Associates Inc. purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at about $27,000. Montag A & Associates Inc. boosted its holdings in shares of GE HealthCare Technologies by 105.4% during the 4th quarter. Montag A & Associates Inc. now owns 341 shares of the company’s stock valued at $28,000 after acquiring an additional 175 shares during the last quarter. Finally, Transamerica Financial Advisors LLC grew its stake in shares of GE HealthCare Technologies by 331.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company’s stock worth $28,000 after acquiring an additional 262 shares during the period. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Up 4.9%

GEHC opened at $64.11 on Wednesday. The firm’s 50 day simple moving average is $63.68 and its two-hundred day simple moving average is $70.80. The company has a market capitalization of $29.16 billion, a PE ratio of 15.34, a PEG ratio of 1.66 and a beta of 0.72. GE HealthCare Technologies Inc. has a 1-year low of $58.75 and a 1-year high of $89.77. The company has a current ratio of 1.22, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.08). The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.04 billion. GE HealthCare Technologies had a return on equity of 20.46% and a net margin of 9.10%.The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $1.01 earnings per share. As a group, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.89 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 24th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, July 24th. GE HealthCare Technologies’s payout ratio is currently 3.35%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. BMO Capital Markets started coverage on shares of GE HealthCare Technologies in a report on Wednesday, July 8th. They set a “market perform” rating and a $70.00 price objective for the company. Hovde Group assumed coverage on shares of GE HealthCare Technologies in a research report on Friday, July 17th. They issued a “market perform” rating and a $14.00 target price for the company. Wells Fargo & Company decreased their target price on shares of GE HealthCare Technologies from $97.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. BNP Paribas Exane dropped their price target on GE HealthCare Technologies from $95.00 to $88.00 in a research note on Friday, May 1st. Finally, Stifel Nicolaus set a $80.00 price objective on GE HealthCare Technologies in a report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $76.41.

Insiders Place Their Bets

In related news, Director Watkin Phoebe L. Yang acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average cost of $63.01 per share, for a total transaction of $63,010.00. Following the purchase, the director owned 13,702 shares in the company, valued at $863,363.02. The trade was a 7.87% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rodney F. Hochman acquired 1,618 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $62.03 per share, with a total value of $100,364.54. Following the completion of the purchase, the director owned 1,618 shares in the company, valued at $100,364.54. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 21,847 shares of company stock valued at $1,361,355. 0.36% of the stock is currently owned by corporate insiders.

GE HealthCare Technologies Profile

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.