GE Healthcare (NASDAQ:GEHC), a medical technology company, first emerged with concerns about its ability to stand on its own without the support of the broader GE brand. However, these worries have been largely unfounded as GE Healthcare has introduced new technology that shows promise.
One such advancement is the Prostate Volume Assist (PVA) system, which uses artificial intelligence (AI) to accurately measure the volume of a human prostate. This technology is essential for determining whether a prostate is cancerous or not, and can also be beneficial in the treatment of other neurological disorders. The PVA system, included with several GE Healthcare ultrasound systems, produces quick and reliable results that make diagnoses easier for physicians.
In addition to the PVA system, GE Healthcare recently announced the distribution of the Ionic Health nCommand Lite system, which has received FDA approval. This system is designed to help alleviate the strain on radiology departments in hospitals facing staffing shortages. With nCommand Lite, users can perform patient scanning functions remotely and review images in real-time, providing a valuable resource for healthcare providers.
On Wall Street, analysts have a Moderate Buy consensus rating on GEHC stock, with seven Buys and three Holds assigned in the past three months. Despite a 17.26% increase in its share price over the past year, the average GEHC price target of $92.22 per share suggests a 2.41% upside potential. Overall, GE Healthcare is showing promise with its innovative technology and strategic partnerships in the healthcare industry.
