Wall Street Analysts See an Upside of ~9% in SYK Stock



Analysts’ recommendations

Stryker (SYK) is one of the leading medical technology firms in the orthopedics space. The company has been delivering stable financial performance in recent years. It’s expanding its portfolio and reach through organic as well as inorganic growth.

On August 30, Stryker announced that it is acquiring K2M Group Holdings (KTWO) for nearly $1.4 billion. The news triggered a decline of ~1.3% in SYK stock. 

On August 31, Reuters surveyed 27 analysts covering SYK stock. Of these analysts, nearly 67% (or 18) have a “buy” or “strong buy” recommendations on SYK stock. Nine analysts have a “hold” recommendation on the stock. None of the analysts provided a “sell” rating on Stryker.

The above chart shows analysts’ recommendation summary for SYK stock over the last few months.

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Target prices

On August 31, Stryker had a consensus 12-month target price of $184.43 per share. This target price represents a 12-month return potential of 9.1% based on the stock’s closing price of $169.02 on August 30.

Rating revisions and updates

After Stryker posted its second-quarter results on July 25, several investment research firms provided their updated recommendation and target prices on SYK stock. RBC raised its target price on SYK stock from $175 to $184. J.P. Morgan (JPM) raised its target price on Stryker from $185 to $190. Jefferies (JEF) and Raymond James raised their target prices on the stock from $165 to $170 and from $185 to $195, respectively.

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