Stryker initiated with a Neutral at Rothschild & Co Redburn

Rothschild & Co Redburn initiated coverage of Stryker (SYK) with a Neutral rating and $420 price target The firm says orthopedics is one of the more mature market segments in medical technology with its growth lagging the sector. However, increasing adoption of robotic-assisted technology, penetration of the ambulatory surgery center setting in the U.S. and growth in less mature markets like shoulder, foot and ankle surgery can sustain improved market growth, the analyst tells investors in a research note. Rothschild believes Stryker’s “strong” competitive positioning and “market-leading” growth reflected in the stock’s valuation and consensus estimates.