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How Long Will Stryker Stock Sustain Its Bullish Trend?

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Stock Performance

Stryker (SYK) closed at $145.4 on July 18, 2017. It has a 50-day moving average of $141.8 and a 200-day moving average of $132.6. Stryker stock rose ~1.2% after the company released its 1Q17 earnings on April 25, 2017. The higher share price was triggered by strong earnings results that surpassed analysts’ estimates.

Since the company’s 1Q17 earnings release, Stryker stock has risen more than 8%. It has returned ~19% over the last year. The stock outperformed the market represented by the S&P 500 Index. The S&P 500 Index returned ~14% during the same period.

As of July 18, 2017, Stryker stock was trading ~36.5% above its 52-week low of $106.5 on November 14, 2016. The stock was trading ~0.34% below its 52-week high of $145.9 on July 14, 2017.

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The stock has witnessed a bullish trend in recent years and strengthened over the past few months due to the company’s strong product portfolio and new innovative launches. The company also experienced profit growth due to various cost transformation initiatives. Strategic acquisitions have been contributing significantly to the company’s growth in recent years. One of the key acquisitions was the acquisition of Mako in 2013. It positioned Stryker as one of the leading companies in the robotics surgery space. For more on the company’s latest development in the robotics surgery space, read Stryker and Its Position in the Robotics Market Space.

Stock performances for Stryker’s peers

As of July 18, 2017, Stryker’s peers Zimmer Biomet Holdings (ZBH), Medtronic (MDT), and Abbott Laboratories (ABT) have generated returns of 4.6%, -9.9%, and 15.8%, respectively, over the last 12 months.

The Health Care Select Sector SPDR Fund (XLV), which represents the US healthcare industry, returned ~7.9%. Stryker stock returned more than XLV over the past year.

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