Jim Cramer’s Best Performers List: 12 Stocks Cramer is Talking About

8. GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Number of Hedge Fund Holders: 49

Cramer mentioned that GE HealthCare Technologies Inc. (NASDAQ:GEHC) is working to find its footing and talked about the headwinds faced by the stock that are slowly evaporating.

“GE HealthCare, which we own for the Charitable Trust, is a laggard that makes MRI machines and other big ticket medical devices. Now, it is just starting to get its sea legs. After COVID knocked it back, Chinese orders slowed and high financing cost has dragged it down. You need to borrow money, these things are so expensive, in order to buy these. But all those negatives are indeed dissipating so the stock can work its way hard.”

GE HealthCare (NASDAQ:GEHC) is involved in developing, manufacturing, and marketing a variety of products, services, and complementary digital solutions that assist in the diagnosis, treatment, and monitoring of patients. On October 1, Evercore ISI raised the price target on the stock to $102 from $98 and maintained an Outperform rating.

The firm made a note that utilization within the MedTech space remains positive as the industry progresses into the third quarter, with a favorable capital expenditure outlook for the upcoming year. In the life sciences segment, trends in bioprocessing are expected to improve in the latter half of the year, although there is ongoing discussion regarding the outlook for instruments and the impact of potential stimulus in China, particularly in light of recent stocks’ performance in the sector.

In the second quarter, GE HealthCare (NASDAQ:GEHC) announced a significant partnership with Amazon Web Services (AWS) to explore the use of generative AI in transforming healthcare delivery. The partnership is looking to optimize processes and better patient care through cutting-edge technology.