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Trajan Group Holdings Ltd (ASX: TRJ<\/a>) is a small-cap<\/a> ASX healthcare stock that has fallen 34.95% in 2025.\u00a0<\/p>\n Trajan Group Holdings<\/a> is a developer and manufacturer of analytical and life sciences products and devices, seeking to enrich human well-being through scientific measurement.\u00a0<\/p>\n Its current portfolio of products comprises products, devices, and solutions that are used in the analysis of biological, food, and environmental samples.<\/p>\n Broker Bell Potter released fresh analysis on the company yesterday, which included a buy recommendation and optimistic price target.\u00a0<\/p>\n Here is what the broker had to say.\u00a0<\/p>\n Improving sentiment, headwinds easing <\/p>\n The report said that the headwinds from Academic\/Government segments in both US & China, appear to be easing.\u00a0<\/p>\n The broker also said tariff mitigation should be completed by FY26 through a combination of pricing and cost out programmes.\u00a0<\/p>\n Instrument sales still face challenges from funding pressures, however consumables business appears to be holding up.\u00a0<\/p>\n Bell Potter also noted this ASX healthcare stock is beginning to utilise AI technology<\/a>.\u00a0<\/p>\n According to the report, AI is beginning to creep into management commentary with a range of AI agents being developed to speed up lead conversion and software development.<\/p>\n As sentiment and operating performance amongst TRJ’s US peers improves, so should TRJ’s financial results.<\/p>\n The broker did note that market acceptance depends on the company’s ability to improve testing products and to introduce new products successfully, while proving its offerings are superior to competing technologies.<\/p>\n AGM results\u00a0 <\/p>\n Trajan Group also recently held its 2025 AGM<\/a>.<\/p>\n The company reported:\u00a0<\/p>\n