Lazard Asset Management LLC Has $26.57 Million Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Lazard Asset Management LLC trimmed its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 339,841 shares of the company’s stock after selling 2,085 shares during the period. Lazard Asset Management LLC owned approximately 0.07% of GE HealthCare Technologies worth $26,568,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CoreFirst Bank & Trust acquired a new position in GE HealthCare Technologies in the fourth quarter valued at approximately $25,000. Runnymede Capital Advisors Inc. acquired a new position in GE HealthCare Technologies in the fourth quarter valued at approximately $28,000. LGT Financial Advisors LLC lifted its holdings in GE HealthCare Technologies by 46.2% in the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock valued at $30,000 after buying an additional 123 shares during the period. Accredited Wealth Management LLC acquired a new position in GE HealthCare Technologies in the fourth quarter valued at approximately $30,000. Finally, Bank of Jackson Hole Trust acquired a new position in GE HealthCare Technologies in the fourth quarter valued at approximately $32,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GEHC shares. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and cut their price objective for the company from $74.00 to $73.00 in a report on Monday, May 5th. Evercore ISI lowered their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Piper Sandler lowered their target price on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the company a “buy” rating in a research note on Monday, April 14th. Finally, Wells Fargo & Company lowered their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.27.

GE HealthCare Technologies Stock Up 6.1%

Shares of GEHC stock opened at $74.11 on Tuesday. The company has a market capitalization of $33.93 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 3.19 and a beta of 1.21. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The firm has a fifty day moving average of $72.28 and a 200-day moving average of $80.48. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 earnings per share. As a group, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio is currently 2.95%.

GE HealthCare Technologies announced that its Board of Directors has approved a share repurchase plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.