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Stryker: Recent Developments and Analysts' Revisions

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Stryker: Recent Developments and Analysts' Revisions PART 1 OF 4

Stryker: Most Analysts Recommend a Strong ‘Buy’

Analysts’ recommendations

Stryker (SYK) is one of the leading medical technology companies in the US. It reported its 3Q17 earnings results on October 26, 2017. It registered strong results and beat analysts’ estimates. Since the earnings release, the company has undergone a number of new developments. In this part, let’s look at analysts’ recent ratings and target prices for Stryker over the next year. As of November 30, 2017, in a Reuters survey of 27 investment research companies, ~63% or 17 firms recommended Stryker stock as a “buy,” while ~30% of the total brokerages provided a “hold” rating on the stock. Only 7% or two of the firms surveyed provided a “sell” recommendation.

Stryker: Most Analysts Recommend a Strong &#8216;Buy&#8217;

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The above table shows the 12-month recommendations summary for Stryker. As of November 30, 2017, analysts’ consensus target price for Stryker stock in the next 12 months is $159.30. The target represents a potential upside potential of ~3.3% if an investment is made in Stryker stock for the next 12 months. The return is based on the stock’s closing price of $154.1 on November 29, 2017.

As of November 30, 2017, analysts’ consensus 12-month target price for peer firms Medtronic (MDT), Zimmer Biomet (ZBH), and Thermo Fisher Scientific (TMO) are $89.9, $130.9, and $219.10, respectively. These targets imply potential investment returns of 9.5%, 11.8%, and 13.6%, respectively, for the next 12-month investment. 

Analysts’ revisions

On November 17, 2017, SunTrust Banks reiterated its “buy” rating on Stryker stock. It has a target price of $161 on Stryker stock. On November 16, 2017, Robert W. Baird raised its rating on the stock from “neutral” to “outperform.” It increased the target price from $161 per share to $173 per share. On November 3, 2017, Needham and Company reiterated its “hold” recommendation on Stryker stock. For diversified exposure to Stryker, investors could consider the Vanguard Growth ETF (VUG). Stryker accounts for ~0.42% of VUG’s total holdings.

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