TD Cowen analyst Josh Jennings maintained a Buy rating on Stryker today and set a price target of $435.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Josh Jennings has given his Buy rating due to a combination of factors, primarily focusing on Stryker’s strong financial performance and optimistic future outlook. The company reported a notable increase in Q2 revenue and earnings per share (EPS), both of which surpassed market expectations. This robust performance was driven by significant organic sales growth, especially in the MedSurg and Neurotechnology segments, which saw an 11% increase. Additionally, the Orthopedics division also showed strong growth, aligning with market forecasts.
Furthermore, Stryker’s management has raised its guidance for future organic sales growth and EPS, reflecting confidence in continued operational momentum. The updated guidance suggests an improvement in organic sales growth to 9.5-10% and an increase in EPS expectations. The company’s ability to adjust its tariff impact assumptions and the potential positive effects of foreign exchange rates further support a favorable outlook. These factors collectively underpin Jennings’s positive assessment of Stryker’s stock, justifying the Buy rating.
In another report released on July 16, Bank of America Securities also maintained a Buy rating on the stock with a $450.00 price target.