GE Stock Climbing on Biosafe Acquisition

GE announced today that it has acquired Swiss company Biosafe.
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Shares of General Electric (GE) - Get Report  are up 0.34% to $32.37 this morning after the company released a statement saying it had acquired Switzerland's Biosafe Group.

Biosafe is a supplier of cell bioprocessing systems for cell therapy industries. GE has acquired the company for an undisclosed sum, according to a press release.

GE plans to join the cell therapies market to develop cures for cancer. The company currently operates an $18 billion-a-year healthcare operation.

GE expects the cell therapy oncology market to reach $30 billion by 2030.

John Flannery, CEO of GE Healthcare, said that the company is looking to "double down" on life sciences, focusing on the cell therapy business.

(GE is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. See how Cramer rates the stock here.)

Separately, TheStreet Ratings rated this stock as a "hold" with a ratings score of C+.

The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and impressive record of earnings per share growth.

However, TheStreet Ratings finds weaknesses including generally higher debt management risk, weak operating cash flow and poor profit margins.

You can view the full analysis from the report here: GE

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. 

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