GE HealthCare Technologies Inc. (GEHC) Positioned to Capitalize on Strong Demand Backlog

GE HealthCare Technologies Inc. (NASDAQ:GEHC) is one of the 10 best healthcare equipment stocks to buy according to hedge funds.

On February 5, Patrick Wood from Morgan Stanley lifted the price target on GE HealthCare Technologies Inc. (NASDAQ:GEHC) from $80 to $85, maintaining an Equal Weight rating.

GE HealthCare Technologies Inc. (GEHC) Positioned to Capitalize on Strong Demand Backlog

The analyst noted the company’s fourth-quarter results, which beat expectations and improved the stock’s risk-reward profile. He believes that demand remains strong, with a strong order backlog and peer results. Wood also pointed towards a highly conducive environment following the company’s hospital CapEx survey.

On January 30, the price target on GE HealthCare Technologies Inc. (NASDAQ:GEHC) was raised from $91 to $94 by Jason Bednar from Piper Sandler. The analyst also reiterated his Overweight rating on the stock, which now offers almost 12% upside from the prevailing level. He reflected on a favorable setup for the company during the fourth quarter.

GE HealthCare Technologies Inc. (NASDAQ:GEHC) operates within the pharmaceutical diagnostics and medical technology spaces. With a focus on precision care, it develops and markets products along with additional services that are used in the diagnosis, treatment, and monitoring of patients. It is structured in four segments: Advanced Visualization Solutions (AVS), Imaging, Patient Care Solutions (PCS), and Pharmaceutical Diagnostics (PDx).

While we acknowledge the risk and potential of GEHC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GEHC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 15 Most Promising Mid-Cap Healthcare Stocks Under $50 and 11 Most Promising Small-Cap Industrial Stocks Under $50.

Disclosure: None. This article is originally published at Insider Monkey.