GE Healthcare, a subsidiary of General Electric, has shown promise as a medical technology company listed on the NASDAQ as GEHC. Despite initial concerns about its ability to stand on its own without the strong support of the broader GE brand, GE Healthcare has proven to be a formidable player in the industry.
One of the latest innovations from GE Healthcare is the Prostate Volume Assist (PVA) system, which uses artificial intelligence (AI) to aid in measuring the volume of the human prostate. Accurate volume measurements are crucial in determining whether the prostate is cancerous or not, and the PVA system can also help diagnose other neurological disorders. With its ability to provide rapid and easy results, this technology is expected to enhance the attractiveness of GE Healthcare’s ultrasound systems to healthcare professionals.
In addition to the PVA system, GE Healthcare has recently announced the distribution of the Ionic Health nCommand Lite system following approval from the FDA. This system is designed to ease strain on radiology departments in hospitals that have been facing staffing shortages. The nCommand Lite system allows users to perform patient scanning remotely and review images in real-time, offering a solution to current staffing challenges.
When considering potential investment opportunities for GEHC stock, Wall Street analysts have a Moderate Buy consensus rating based on recent evaluations. Over the past three months, seven Buys and three Holds have been assigned, resulting in a 17.26% increase in share price over the last year. The average price target for GEHC stock is $92.22 per share, suggesting a 2.41% upside potential. Overall, GE Healthcare appears to be making positive strides with its technological advancements and distribution of innovative systems.
