Lazard Asset Management LLC Increases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Lazard Asset Management LLC boosted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 35.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 222,106 shares of the company’s stock after buying an additional 58,679 shares during the quarter. Lazard Asset Management LLC’s holdings in GE HealthCare Technologies were worth $20,190,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Jennison Associates LLC lifted its stake in shares of GE HealthCare Technologies by 49.4% in the 4th quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock valued at $93,467,000 after purchasing an additional 399,961 shares during the period. South Dakota Investment Council lifted its position in GE HealthCare Technologies by 272.1% during the fourth quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock valued at $7,598,000 after buying an additional 71,857 shares during the period. US Bancorp DE boosted its holdings in shares of GE HealthCare Technologies by 83.4% during the 4th quarter. US Bancorp DE now owns 146,524 shares of the company’s stock valued at $11,329,000 after buying an additional 66,638 shares in the last quarter. Cerity Partners LLC increased its stake in shares of GE HealthCare Technologies by 27.2% in the 4th quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock worth $3,551,000 after acquiring an additional 9,809 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in GE HealthCare Technologies by 3.9% during the fourth quarter. Fifth Third Bancorp now owns 33,632 shares of the company’s stock worth $2,600,000 after acquiring an additional 1,250 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Mizuho lowered their target price on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Bank of America dropped 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. The Goldman Sachs Group initiated coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They issued a “neutral” rating and a $87.00 target price on the stock. Argus lifted their price target on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Evercore ISI increased their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $94.09.

Insider Buying and Selling

In related news, insider Frank R. Jimenez bought 1,315 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now owns 75,796 shares of the company’s stock, valued at $5,799,909.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Frank R. Jimenez acquired 1,315 shares of the stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average cost of $76.52 per share, with a total value 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jan Makela sold 20,227 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was 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 directly owns 63,348 shares of the company’s stock, valued at $5,167,296.36. The disclosure for this sale can be found here. Insiders sold 90,482 shares of company stock valued at $7,369,137 over the last 90 days. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $80.07 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06. The firm has a market cap of $36.55 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 2.90 and a beta of 1.20. The business has a 50-day simple moving average of $78.65 and a two-hundred day simple moving average of $82.22. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week 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 the consensus estimate of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. On average, analysts expect that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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

GE HealthCare Technologies 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.