Convincing investors to get in on a stock is job one for a lot of companies. Convincing analysts can be harder, but sometimes, just as rewarding. Just ask healthcare stock GE Healthcare Technologies (NASDAQ:GEHC), the spin-off company that just won a little extra analyst love and gained just over 3% in Wednesday afternoon’s trading.
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The new rating comes from Piper Sandler’s Jason Bednar, who kicked off coverage of GE Healthcare with a bang. Bednar called GE Healthcare a Buy and put a $95 price target on the stock as well. Bednar lead off with strong praise for GE Healthcare, calling it a “…mature healthcare-equipment bellwether with a large installed base of equipment…” that will make it familiar ground for investors. While it’s clearly mature, Bednar goes a little farther, calling it “…a more nimble, faster-growing, and more profitable entity” since its spin-off.
Bednar certainly has a point here, and that much is clear by GE Healthcare’s trip to HIMSS 2023, a healthcare exhibition in Chicago. GE Healthcare brought a range of new tools to exhibit, including the Viewpoint 6 ultrasound system, the ReadySee asset management and network supervision tool, and the Portrait Mobile monitoring system. These systems and more led to GE Healthcare being considered one of the medical technology industry’s most innovative startups, based on word from GE Healthcare’s president and CEO of Imaging, Jan Makela.
However, there’s one bad sign afoot; insider trading at GE Healthcare suggests a less certain outlook. Right now, insider confidence is running just a bit under pure neutral, as they sold off $5.4 million worth of shares in the last three months.
