Stryker initiated with an Outperform at Leerink

Leerink analyst Mike Kratky initiated coverage of Stryker (SYK) with an Outperform rating and $410 price target The firm says Stryker offers a compelling combination of high-quality growth, top-tier commercial execution, and an attractive portfolio of products within large cap MedTech. Stryker has achieved above-average low double digit percentage organic revenue and adjusted EPS growth over the past few years through purposefully built best-in-class commercial DNA and ongoing product innovations, Leerink notes. As the company’s overall revenue exposure continues to shift away from ortho market towards more attractive, higher-growth end markets through both organic and inorganic investments, Stryker is well-positioned to deliver sustained outsized growth, driving further upside for the stock, adds Leerink.