Why GE HealthCare Technologies (GEHC) is One of the Best Medical Device Stocks to Invest in Right Now

GE HealthCare Technologies Inc. (NASDAQ:GEHC) is one of the best medical device stocks to invest in right now. Piper Sandler cut the price target on GE HealthCare Technologies Inc. (NASDAQ:GEHC) to $88 from $96 on April 17, reaffirming an Overweight rating on the shares. The firm stated that it is adding the recent acquisition of Intelerad into its model, and that this is inclusive of an additional $270M in annual revenue, a $75M increase in annual adjusted EBIT, and EPS that is slightly dilutive in 2026 and accretive in 2027 and 2028.

Was Jim Cramer Right About GE Healthcare Technologies Inc. (GEHC)

In a separate development, GE HealthCare Technologies Inc. (NASDAQ:GEHC) announced on April 23 that the first patient had been dosed in the international, multi-center Phase 2/3 LUMINA clinical trial of its manganese-based magnetic resonance imaging contrast agent, mangaciclanol, at Mayo Clinic in Rochester, Minnesota. If approved, Mangaciclanol could offer an alternative to, or even potentially replace, gadolinium-based MRI contrast agents, which are the current standard of care.

GE HealthCare Technologies Inc. (NASDAQ:GEHC) further reported that the investigational agent has been granted Fast Track designation by the U.S. Food and Drug Administration for use in adults and pediatric patients aged 2 years and older with MRI to detect and visualize lesions with abnormal vascularity in the central nervous system and the body.

GE HealthCare Technologies Inc. (NASDAQ:GEHC) develops and manufactures medical technology, pharmaceutical diagnostics, and digital solutions. The company’s operations are divided into the following segments: Imaging, Advanced Visualization Solutions (AVS), 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 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.

Disclosure: None. Follow Insider Monkey on Google News.