Travis Steed, an analyst from Bank of America Securities, maintained the Hold rating on GE Healthcare Technologies Inc. The associated price target remains the same with $82.00.
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Travis Steed’s rating is based on GE Healthcare Technologies Inc’s response to the launch of a generic version of Omnipaque. The company indicated that only two SKUs of Omnipaque are affected by the generic competition, which represents a minor portion of their overall volumes. This suggests that the impact on GEHC’s revenue will be limited, with only a small percentage of their pharmaceutical diagnostics revenue at risk.
Additionally, GE Healthcare has emphasized its strong market position due to its extensive product catalog, reliable supply chain, and long-standing customer relationships. These factors contribute to the company’s ability to maintain its market leadership despite the introduction of generic competitors. As a result, the potential financial impact is considered immaterial, justifying the Hold rating by Travis Steed.