Cont‘d PET CT Growth Bodes Well for Flyrcado; Examining the Office Oppy

研报英文原文证据摘录

Cont‘d PET CT Growth Bodes Well for Flyrcado; Examining the Office Oppy

USA | Medical Supplies & Devices

GE HealthCare Technologies Inc EquityJulyResearch7, 2026

COMPANY UPDATECont'd PET CT Growth Bodes Well for Flyrcado;

RATING BUYExamining the Office Oppy

PRICE $64.84^

We are updating our US PET imaging framework, with the benefit of '24

data (previously '18-23). In '24, there were 519K PET CT perfusion exams PRICE TARGET | % TO PT $90.00 | +39%

(1.17MM scans), growing 46% y/y, well above our prior +27% estimate. PET 52W HIGH-LOW $89.77 - $58.75

CT growth likely remains buoyant, driven by clinical superiority, reimbursement, FLOAT (%) | ADV MM (USD) 99.1% | 314.22

and guidelines recommending PET CT over SPECT. If PET CT grows at a ~20% MARKET CAP $29.7B

CAGR from '24-'28, GEHC’s $500MM target for Flyrcado in '28 would require TICKER GEHC ^Prior trading day's closing price unless otherwise

only 9% volume share. noted.

The greater momentum for PET CT than we estimated in '24 bodes well for future growth of the Cal CHANGE TO JEFe JEF vs CONS

segment and gives us more confidence in the achievability of GEHC's Flyrcado targets. GEHC 2026 2027 2026 2027

had a strong 1Q in PDx (~10% org. growth), noting an 80% increase in Flyrcado doses since late Jan REV NA NA NM +1%

(~$46MM run-rate up from $26MM). GEHC reiterated confidence in achieving $500MM in Flyrcado

EPS NA NA +1% NM

sales by '28, citing a 50% customer base expansion since Jan.

GEHC acknowledged the initial ramp has been slower than expected, attributing this to 2026 ($) Q1A Q2 Q3 Q4 Cal

the operational complexity of radiopharmacy manufacturing and the need for site workflow EPS 0.99 1.04 1.24 1.66 4.93

adaptation; both are improving rapidly as sites scale. GEHC plans to provide weekly dose data PREV