GE Healthcare Technologies Inc, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Travis Steed from Bank of America Securities reiterated a Hold rating on the stock and has a $82.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Travis Steed has given his Hold rating due to a combination of factors influencing GE Healthcare Technologies Inc. The company’s Q3 performance was strong, with organic revenue growth surpassing expectations, driven by the Ultrasound business and robust performance in EMEA and USCAN regions. However, despite this positive momentum, the company’s guidance for the full year remains conservative, maintaining a 3% organic growth target, which suggests limited upside potential in the near term.
Another factor contributing to the Hold rating is the slower-than-expected start of the Flyrcado product, which, while not significantly impacting the company’s vast revenue base, highlights a cautious approach to prioritizing customer experience over immediate revenue gains. Additionally, while the China business is on track and showing signs of recovery, it needs to stabilize further to meet medium-term growth targets. These elements, combined with the current valuation and market conditions, support the decision to maintain a Neutral stance on the stock.
Steed covers the Healthcare sector, focusing on stocks such as Boston Scientific, Medtronic, and Intuitive Surgical. According to TipRanks, Steed has an average return of 5.8% and a 57.66% success rate on recommended stocks.
In another report released yesterday, Morgan Stanley also maintained a Hold rating on the stock with a $80.00 price target.