TD Cowen analyst Josh Jennings has reiterated their bullish stance on SYK stock, giving a Buy rating on April 15.
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Josh Jennings has given his Buy rating due to a combination of factors that highlight Stryker’s strong position as it enters 2025. The company is expected to meet ambitious growth targets, driven by robust trends in elective procedures and capital investments. Jennings notes that the consensus growth estimate of 8.4% for the first quarter appears attainable, given Stryker’s sustained momentum.
Furthermore, Stryker’s performance in the first quarter is supported by positive trends in key areas such as procedure volumes, capital spending, and pricing metrics. The company’s management has expressed confidence in the continued strength of its orthopedic markets, fueled by increasing patient activity. Additionally, capital spending remains strong, and positive pricing trends have been observed, with Stryker no longer expecting the pricing challenges it faced in the past. These factors collectively contribute to Jennings’s Buy rating for Stryker.
Jennings covers the Healthcare sector, focusing on stocks such as Abbott Laboratories, Boston Scientific, and Establishment Labs Holdings. According to TipRanks, Jennings has an average return of 0.2% and a 45.47% success rate on recommended stocks.
In another report released on April 15, RBC Capital also maintained a Buy rating on the stock with a $435.00 price target.