Stryker price target lowered to $392 from $407 at Truist

Truist analyst Richard Newitter lowered the firm’s price target on Stryker (SYK) to $392 from $407 and keeps a Hold rating on the shares following Q3 results with “mixed quality” earnings upside. Some key organizational revenue drivers fell short, but hips/knees picked up and record Mako placements could be suggestive of Mako 4 gaining steam, Truist told investors in a research note. The firm’s estimates inch upwards, and with the November 13 investor day coming up, Truist said it will get a sense of management’s long-term targets and whether there could be faster growth prospects to support a higher multiple.