Analyst Josh Jennings of TD Cowen maintained a Buy rating on Stryker (SYK – Research Report), retaining the price target of $435.00.
Josh Jennings has given his Buy rating due to a combination of factors that highlight Stryker’s advancements in the field of orthopedic robotics. The company has made significant progress with its Mako robotic platform, particularly through the establishment of the MAKO Enabling Technologies business unit. This new unit integrates the Spine Enabling Technology business with existing Mako robotics, enhancing surgical precision and procedural capabilities.
Key developments include the FDA clearance of Total Hip and Total Knee revision applications, as well as advancements in shoulder and spine applications. These innovations demonstrate Stryker’s commitment to maintaining its leadership in the global orthopedic robotics market. The enhancements in surgical precision and procedural capabilities are expected to drive growth and strengthen Stryker’s market position, justifying the Buy rating.
In another report released yesterday, Piper Sandler also reiterated a Buy rating on the stock with a $420.00 price target.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SYK in relation to earlier this year.