In a report released yesterday, Matthew Taylor from Jefferies maintained a Buy rating on Stryker (SYK – Research Report), with a price target of $465.00.
Matthew Taylor has given his Buy rating due to a combination of factors that highlight Stryker’s robust market position and growth potential. The company has demonstrated strong procedural and capital environments, with management expressing confidence in their fiscal year 2025 guidance of 8-9% organic growth. This optimism is supported by a solid track record of double-digit growth and a focus on new product development, which positions Stryker as a leading player in the medical technology sector.
Furthermore, Stryker has effectively countered concerns about Medicaid cuts and consumer weakness, maintaining strong demand for capital expenditures and procedure volumes. The company benefits from a healthy order book and robust hospital balance sheets, with no anticipated delays in product approvals from the FDA. Additionally, Stryker’s strategic initiatives, such as the integration of NARI into their Neurovascular portfolio and potential expansion into the soft tissue robotics market, further enhance their growth prospects and justify the Buy rating.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $435.00 price target.
SYK’s price has also changed slightly for the past six months – from $370.250 to $363.660, which is a -1.78% drop .