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Why Analysts Have a Positive View on Stryker

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Why Analysts Have a Positive View on Stryker PART 1 OF 9

Stryker Registers 52-Week High: What’s behind the Stock Rally?

Stryker’s recent stock rally

Stryker, one of the leading players in the orthopedic device industry, released its 3Q17 earnings results on October 26, 2017. On October 27, 2017, SYK stock rose ~5%. Stryker’s stock price has been on an uptrend over the last few quarters, with increased strength over the recent months. However, certain challenges, including a product recall and lawsuits, dragged down the company’s stock intermittently. For more, read Stryker Stock Falls Due to the Impact of the Sage Products Recall.

However, the stock recovered and reported a 52-week high of $160.60 on October 27, 2017. The rise was triggered by strengthening investor confidence led by stellar 3Q17 results posted by the company on October 26, 2017. The company also increased its fiscal 2017 guidance, which had been reduced following the recall of certain Sage products in August 2017. SYK stock reported a 52-week low of $106.50 on November 14, 2016. Stryker has been trading at a higher value than the stock’s 50-day moving average of $145.90 and 200-day moving average of $142.20.

Stryker Registers 52-Week High: What&#8217;s behind the Stock Rally?

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Comparison with peers

The Vanguard Total Stock Market ETF (VTI) rose ~1% the day following the company’s 3Q17 earnings announcement. SYK makes up ~0.18% of VTI.

YTD (year-to-date), SYK stock has returned ~29.7%. Over the past 12 months, SYK stock has risen ~36%. The returns surpass industry averages as well as those of peers. As of October 30, 2017, peers Zimmer Biomet (ZBH), Medtronic (MDT), and Thermo Fisher Scientific (TMO) had risen approximately -0.93%, -1.7%, and 30.4%, respectively, over the past year. In the next part of this series, we’ll check out Stryker’s 3Q17 sales results.

 

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