Lazard Asset Management LLC Buys 58,679 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Lazard Asset Management LLC raised its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 35.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,106 shares of the company’s stock after acquiring an additional 58,679 shares during the period. Lazard Asset Management LLC’s holdings in GE HealthCare Technologies were worth $20,190,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GEHC. CVA Family Office LLC acquired a new position in GE HealthCare Technologies in the fourth quarter valued at about $47,000. Kingswood Wealth Advisors LLC acquired a new position in shares of GE HealthCare Technologies in the 4th quarter valued at approximately $332,000. Assenagon Asset Management S.A. lifted its holdings in shares of GE HealthCare Technologies by 59.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 11,229 shares of the company’s stock worth $868,000 after acquiring an additional 4,178 shares during the period. Procyon Advisors LLC boosted its position in shares of GE HealthCare Technologies by 5.2% during the 4th quarter. Procyon Advisors LLC now owns 3,555 shares of the company’s stock worth $275,000 after acquiring an additional 175 shares in the last quarter. Finally, Clear Harbor Asset Management LLC bought a new position in GE HealthCare Technologies in the fourth quarter valued at approximately $374,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GEHC shares. Bank of America reduced their target price on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Argus lifted their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Mizuho lowered their target price on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Evercore ISI raised their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Citigroup upped their price objective on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.09.

Insider Activity

In related news, CEO Jan Makela sold 66,955 shares of GE HealthCare Technologies stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the completion of the transaction, the chief executive officer now owns 63,348 shares of the company’s stock, valued at $5,165,395.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other GE HealthCare Technologies news, CTO Taha Kass-Hout sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the transaction, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at $5,296,510. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jan Makela sold 66,955 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the sale, the chief executive officer now directly owns 63,348 shares of the company’s stock, valued at approximately $5,165,395.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,482 shares of company stock valued at $7,369,137. 0.27% of the stock is currently owned by insiders.

GE HealthCare Technologies Price Performance

GEHC stock opened at $80.07 on Monday. The company has a market capitalization of $36.55 billion, a P/E ratio of 23.54, a PEG ratio of 2.90 and a beta of 1.20. The company has a fifty day moving average price of $78.65 and a 200-day moving average price of $82.22. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, meeting analysts’ consensus estimates of $0.90. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 EPS. As a group, equities analysts expect that GE HealthCare Technologies Inc. will post 4.27 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be given a $0.03 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.51%.

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.