In a report released yesterday, Ryan Zimmerman from BTIG maintained a Buy rating on GE Healthcare Technologies Inc (GEHC – Research Report), with a price target of $95.00.
Ryan Zimmerman has given his Buy rating due to a combination of factors including the promising potential of GE Healthcare Technologies Inc’s new radiopharmaceutical agent, Flyrcado. This agent, which was recently cleared, offers a longer half-life compared to current market options, making it a superior choice for detecting coronary artery disease. Despite some logistical challenges in adoption, such as managing high volumes of radiated patients and the costs associated with no-show patients, the clinical benefits of Flyrcado are evident.
Furthermore, Zimmerman’s valuation of GEHC is supported by the company’s improving business dynamics and its potential to trade closer to its large-cap peers. The projected sales growth, with an estimated $500 million in annual sales by FY28, also contributes to the positive outlook. Although GEHC has historically been valued at a discount compared to its peers, the current trajectory suggests a more favorable alignment with industry averages.
In another report released yesterday, DBS also maintained a Buy rating on the stock with a $80.00 price target.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GEHC in relation to earlier this year.