Needham Sticks to Its Hold Rating for Stryker (SYK)

In a report released today, Michael Matson from Needham maintained a Hold rating on Stryker (SYKResearch Report). The company’s shares closed last Tuesday at $204.41.

According to TipRanks.com, Matson is a 4-star analyst with an average return of 3.4% and a 48.5% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Stryker with a $250.88 average price target, a 23.9% upside from current levels. In a report issued on July 21, Deutsche Bank also downgraded the stock to Hold with a $205.00 price target.

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Based on Stryker’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $4.28 billion and net profit of $323 million. In comparison, last year the company earned revenue of $3.95 billion and had a net profit of $302 million.

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Michigan-based Stryker Corp. was founded in 1941. The company provides medical technology products and services. It operates its business through the following segments: Orthopaedics, MedSurg and Neurotechnology and Spine.

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