Stryker (SYK – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Ryan Zimmerman from BTIG maintained a Buy rating on the stock and has a $403.00 price target.
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Ryan Zimmerman has given his Buy rating due to a combination of factors that highlight Stryker’s strong market position and growth potential. Stryker’s reprocessing business, despite being a small portion of the company’s overall revenue, has shown consistent growth over the years. This segment, which includes a variety of reprocessed medical devices, is expected to continue growing in line with the company’s overall growth profile.
Furthermore, Zimmerman’s valuation of Stryker is based on a premium multiple relative to its large-cap peers, justified by Stryker’s multi-year premium growth profile and strong execution history. The stock’s current trading multiple and the projected earnings per share estimate support a positive outlook, leading to a price target of $403. These factors collectively contribute to Zimmerman’s confidence in recommending a Buy rating for Stryker.
Zimmerman covers the Healthcare sector, focusing on stocks such as GE Healthcare Technologies Inc, Zimmer Biomet Holdings, and Stryker. According to TipRanks, Zimmerman has an average return of -3.0% and a 40.49% success rate on recommended stocks.