BTIG analyst Ryan Zimmerman reiterated a Buy rating on Stryker yesterday and set a price target of $407.00.
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Ryan Zimmerman has given his Buy rating due to a combination of factors that highlight Stryker’s strong position in the MedTech industry. The company’s diversified business model, particularly in the Medsurg and Neurotechnology segment, which accounts for a significant portion of its sales, has shown consistent growth over the past decade. This segment is composed of multiple business units that are positioned in growing markets, contributing to Stryker’s robust performance.
Additionally, Stryker’s focus on inorganic growth through mergers and acquisitions is a key strategy, with management actively evaluating potential deals that align with their core business areas. This approach is expected to enhance revenue in the coming years. Furthermore, Stryker’s valuation is supported by its premium growth profile and strong execution history, justifying a higher multiple compared to its peers. These factors collectively reinforce the Buy rating and the price target set by Zimmerman.
In another report released on August 18, Canaccord Genuity 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 $386.410 to $391.870, which is a 1.41% increase.