Lazard Asset Management LLC Lowers Holdings in GE HealthCare Technologies Inc. $GEHC

Lazard Asset Management LLC lessened its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.1% during the 1st quarter, Holdings Channel reports. The firm owned 390,065 shares of the company’s stock after selling 34,308 shares during the period. Lazard Asset Management LLC’s holdings in GE HealthCare Technologies were worth $27,765,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GEHC. Western Wealth Management LLC grew its holdings in GE HealthCare Technologies by 2.4% during the 4th quarter. Western Wealth Management LLC now owns 5,240 shares of the company’s stock valued at $430,000 after buying an additional 125 shares in the last quarter. United Community Bank lifted its holdings in shares of GE HealthCare Technologies by 10.2% in the fourth quarter. United Community Bank now owns 1,410 shares of the company’s stock worth $116,000 after buying an additional 130 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of GE HealthCare Technologies by 3.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,567 shares of the company’s stock worth $293,000 after buying an additional 134 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of GE HealthCare Technologies by 1.1% during the fourth quarter. Quadrant Capital Group LLC now owns 12,557 shares of the company’s stock worth $1,030,000 after acquiring an additional 140 shares during the last quarter. Finally, Mount Vernon Associates Inc. MD boosted its position in shares of GE HealthCare Technologies by 0.8% during the first quarter. Mount Vernon Associates Inc. MD now owns 18,165 shares of the company’s stock worth $1,293,000 after acquiring an additional 144 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Peter J. Arduini bought 4,169 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was acquired at an average cost of $59.92 per share, for a total transaction of $249,806.48. Following the completion of the transaction, the chief executive officer owned 259,424 shares in the company, valued at $15,544,686.08. This trade represents a 1.63% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rodney F. Hochman acquired 1,618 shares of the firm’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 acquisition, the director directly owned 1,618 shares in the company, valued at $100,364.54. This represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 21,847 shares of company stock valued at $1,361,355. Insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GEHC shares. BNP Paribas Exane reduced their price target on shares of GE HealthCare Technologies from $95.00 to $88.00 in a report on Friday, May 1st. BTIG Research reissued a “buy” rating and set a $75.00 price objective on shares of GE HealthCare Technologies in a report on Monday, July 13th. Barclays cut their price objective on GE HealthCare Technologies from $87.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. UBS Group reduced their target price on GE HealthCare Technologies from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Finally, Jefferies Financial Group decreased their target price on GE HealthCare Technologies from $105.00 to $90.00 in a research report on Thursday, April 30th. Ten research 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. According to MarketBeat, GE HealthCare Technologies currently has an average rating of “Hold” and an average price target of $76.41.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock opened at $64.11 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 1.22. The stock has a 50 day moving average price of $63.68 and a 200-day moving average price of $70.80. The stock has a market cap of $29.16 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.66 and a beta of 0.72. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77.

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

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 24th will be given a $0.035 dividend. 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 dividend payout ratio is 3.35%.

GE HealthCare Technologies Company 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.