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Where Is SYK Stock Headed after Its Recent All-Time Highs?

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Stock performance

On February 26, 2018, Stryker (SYK) closed trading at $165.77. The stock was trading at its all-time high of $170 on January 29, 2018. 

SYK rallied leading up to the company’s announcement of its 4Q17 and 2017 results on January 30, 2018, due to strong investor sentiments boosted by its robust preliminary 4Q17 and 2017 results on January 9, 2018, as well as the release of positive clinical trial data for some of the company’s products. 

According to Stryker, it has delivered sales growth consistently higher than that of the average performance of the medical technology industry over the past several years.

The stock is currently trading above its 200-day moving average of $160.03 and its 50-day moving average of $160.03. SYK stock registered a 52-week low of $127.19 a year ago on February 28, 2017.

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SYK stock has registered strong stock performance despite the volatility it experienced during 2017 due to the recall of certain Sage products following FDA warnings. Following the event, the company made a downward revision to its 2017 guidance and saw a bearish stock trend. However, the company made a strong turnaround and registered impressive 4Q17 and 2017 results, surpassing expectations.

Over the last six months, SYK stock has risen ~18.5%. However, over the last month, the stock has registered a fall of ~2% since registering its all-time-high on January 29, 2018. In the last 12 months, the stock has registered return of ~28.2%. For the same period, the returns registered by the market and the medical device industry (IHI) stand at 17.4% and 24.5%, respectively.

On February 27, 2018, peers Medtronic (MDT), Zimmer Biomet Holdings (ZBH), and Abbott Laboratories (ABT) had one-year stock returns of ~2.5%, 32.5%, and 1.7%, respectively.

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