General Electric (GE) And DILON Diagnostics Sign Distribution Agreement for Molecular Breast Imaging system


Today General Electric (NYSE:GE) and their GE Healthcare subsidiary have signed an important distribution deal with DILON Diagnostics for their Discovery NM750b Molecular Breast Imaging system.

The imaging system has been designed to better detect lesions associated with breast cancer, and will allow doctors to expand their screening process even further in hopes of detecting the disease as early as possible

“We are excited to make the Discovery NM750b breast imaging system further available and to benefit from DILON’s global and solid network of sales representatives,” says Nathan Hermony, Nuclear Imaging global business manager for GE Healthcare. “GE believes strongly in this advanced technology and the potential for this type of imaging to improve breast cancer diagnosis. DILON Diagnostics resources will bring further the education and acceptance of Molecular Breast Imaging.”

The stock is up 0.54% or $0.16 after the positive news, hitting $30.75 per share. About 81.97M shares traded hands. GE has risen 13.68% since April 22, 2015 and is uptrending. It has outperformed by 14.69% the S&P500.

Out of 11 analysts covering General Electric Company (NYSE:GE), 7 rate it “Buy”, 0 “Sell”, while 4 “Hold”. This means 64% are positive. $54 is the highest target while $25.84 is the lowest. The $31.28 average target is 1.72% above today’s ($30.75) stock price. General Electric Company was the topic in 19 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Credit Suisse maintained the stock on November 23 with “Outperform” rating. Vetr downgraded it to “Hold” rating and $25.84 target price in a September 22 report. Stifel Nicolaus maintained the shares of GE in a report on October 19 with “Buy” rating. Deutsche Bank maintained the firm’s rating on August 25. Deutsche Bank has “Hold” rating and $29 price target. Finally, William Blair upgraded the stock to “Outperform” rating in an October 13 report.

The institutional sentiment decreased to 0.83 in Q2 2015. Its down 0.20, from 1.03 in 2015Q1. The ratio dropped, as 68 funds sold all General Electric Company shares owned while 884 reduced positions. 140 funds bought stakes while 649 increased positions. They now own 5.47 billion shares or 1.52% less from 5.55 billion shares in 2015Q1.

American Asset Management Inc. holds 12.79% of its portfolio in General Electric Company for 8,204 shares. Trustco Bank Corp N Y owns 419,759 shares or 10.79% of their US portfolio. Moreover, Artemis Investment Management Llp has 9.85% invested in the company for 11.44 million shares. The France-based Natixis Asset Management has invested 9.42% in the stock. Albion Financial Group Ut, a Utah-based fund reported 1.88 million shares.

General Electric Company is a diversified infrastructure and financial services company. The company has a market cap of $312.13 billion. The services and products of the Company range from aircraft engines, power generation, gas and oil production equipment, and household appliances to medical imaging, business and consumer financing and industrial products. It has 99.82 P/E ratio. The Firm operates its divisions through its eight businesses, on the markets they serve: Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Appliances, and Lighting and GE Capital.