Analyst Initiates Coverage of GE Healthcare, Says’ Path To Greatness Well-Paved’

Ella Castle

Mizuho Securities initiated coverage on GE Healthcare Technologies Inc (NASDAQ: GEHC) with a Buy rating and a price target of $90. Last month, General Electric Company (NYSE: GE) completed the previously announced spin-off of its healthcare unit. Positive feedback from a proprietary survey points toward the demand for additional US hospital imaging capacity and a return to double-digit growth […]

  • Mizuho Securities initiated coverage on GE Healthcare Technologies Inc (NASDAQ: GEHC) with a Buy rating and a price target of $90.

  • Last month, General Electric Company (NYSE: GE) completed the previously announced spin-off of its healthcare unit.

  • Positive feedback from a proprietary survey points toward the demand for additional US hospital imaging capacity and a return to double-digit growth in imaging procedures.

  • Despite staffing constraints, radiology volumes are expected to improve by +6-8% in 2023. The analyst writes that bullish findings support our +6% organic top-line growth forecast over the next 2+ years.

  • Also Read: GE HealthCare Clocks $5B In Q4 Sales On Strong End Market Demand, Reaffirms Annual Guidance.

  • Significant upside potential in demand for MRI brain scans among active users of newly approved Biogen Inc’s (NASDAQ: BIIB) Leqembi Alzheimer’s disease, writes the analyst in a note titled ‘GE Healthcare Reboot Underway With Path to Greatness Well-Paved.’

  • The capacity needs for MRI brain scans point toward additional ~400k scans by 2025 and nearly a ~3.0x increase over the next seven years.

  • If Leqemb also secures EU and Japan market clearances with favorable reimbursement, Mizuho estimates up to $1 billion of MRI capital demand in relatively short order from this single drug launch.

  • Price Action: GEHC shares are trading up 1.79% at $72.18 on the last check Friday.

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This article Analyst Initiates Coverage of GE Healthcare, Says’ Path To Greatness Well-Paved’ originally appeared on Benzinga.com

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