In a report released yesterday, Larry Biegelsen from Wells Fargo maintained a Buy rating on GE Healthcare Technologies Inc (GEHC – Research Report), with a price target of $103.00.
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Larry Biegelsen has given his Buy rating due to a combination of factors surrounding GE Healthcare Technologies Inc’s recent developments. The launch of their new product, Flyrcado, is a significant milestone, with management projecting approximately $30 million in sales for 2025. This product has the potential to become a $1 billion opportunity over time, indicating strong future growth prospects for the company.
Additionally, the receipt of CMS pass-through status is a favorable development, as it facilitates separate payments for the radiopharmaceutical and the PET-CT scan when used in hospital outpatient settings. This change is expected to improve patient access and benefit hospital customers, GEHC, and the broader industry. The unbundling of hospital outpatient payments for diagnostic imaging agents is seen as a positive step towards resolving reimbursement challenges, further supporting the Buy rating.
GEHC’s price has also changed moderately for the past six months – from $91.990 to $81.660, which is a -11.23% drop .