May 21, 2024 2:27 pm
New Technology Gives GE Healthcare (NASDAQ:GEHC) a Boost

GE Healthcare (NASDAQ:GEHC) has proven that concerns about its ability to stand on its own were largely unfounded. The company’s latest advancements in medical technology have shown promise, with the Prostate Volume Assist (PVA) system and Ionic Health nCommand Lite being two such developments.

The PVA system uses artificial intelligence (AI) to accurately measure the volume of a human prostate, which is essential for determining whether it is cancerous or not, as well as for treating other neurological disorders. This technology is included with several GE Healthcare ultrasound systems and produces quick and reliable results that make diagnoses easier for physicians.

GE Healthcare has also announced the distribution of the Ionic Health nCommand Lite system, which has received FDA approval. This system helps alleviate the strain on radiology departments in hospitals facing staffing shortages by allowing users to perform patient scanning functions remotely and review images in real-time.

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.

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