Stryker's SYK Stock Price Target Raised by Truist Securities

Stryker (SYK) has seen its price target raised by Truist Securities from $410 to $415, representing a 1.22% increase. The average analyst target for SYK is $432.99, with a high estimate of $485 and a low of $315.50, indicating a 14.61% upside from the current price. The average brokerage recommendation is 2.0, indicating "Outperform" status. The estimated GF Value for SYK in one year is $410.97, suggesting an 8.78% upside from the current price.

Stryker Corporation (SYK) has seen its price target raised by Truist Securities from $410 to $415, representing a 1.22% increase. This move comes amidst positive analyst sentiment and strong financial performance. The average analyst target for SYK stands at $432.99, with a high estimate of $485 and a low of $315.50, indicating a 14.61% upside from the current price of $377.79. The average brokerage recommendation is 2.0, indicating "Outperform" status. Additionally, the estimated GF Value for SYK in one year is $410.97, suggesting an 8.78% upside from the current price.

Truist Securities maintained a "Hold" rating on SYK despite raising the price target. The firm cited Stryker’s strong second-quarter results, which included a double-digit revenue and earnings per share beat. Stryker’s revenue reached $6.02 billion, outperforming the anticipated $5.94 billion, while earnings per share (EPS) of $3.13 exceeded the forecasted $3.07, resulting in a 1.95% surprise. Despite these positive developments, Stryker’s stock experienced a decline during regular trading hours but saw a slight recovery in aftermarket trading.

The company, valued at $145.6 billion, has demonstrated strong performance with 11.4% revenue growth over the last twelve months. Analysts have set price targets ranging from $316 to $465, with 15 analysts recently revising their earnings estimates upward. Truist noted some minor concerns, including NARI destocking, softer knee growth, and longer-than-expected medical supply constraints, but characterized these issues as temporary.

Institutional investors have also shown interest in SYK. Mesirow Financial Investment Management, Inc. added 43,487 shares to their portfolio, and 1,045 institutional investors added shares of STRYKER stock to their portfolio in the most recent quarter. Meanwhile, insider trading activity has been minimal, with no purchases reported in the last six months.

Stryker designs, manufactures, and markets a wide array of medical equipment, instruments, consumable supplies, and implantable devices. The company remains one of the three largest competitors in reconstructive orthopedic implants and holds the leadership position in operating room equipment. Roughly one-fourth of Stryker’s total revenue currently comes from outside the United States.

References
[1] https://www.gurufocus.com/news/3031369/syk-sees-raised-price-target-from-truist-securities-today-syk-stock-news
[2] https://ca.investing.com/news/analyst-ratings/truist-securities-raises-stryker-stock-price-target-to-415-on-solid-results-93CH-4134941
[3] https://www.quiverquant.com/news/Fund+Update%3A+Mesirow+Financial+Investment+Management%2C+Inc.+added+43%2C487+shares+of+STRYKER+%28%24SYK%29+to+their+portfolio