Bank of America Securities analyst Travis Steed has reiterated their bullish stance on SYK stock, giving a Buy rating today.
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Travis Steed has given his Buy rating due to a combination of factors including Stryker’s strong revenue growth and positive outlook. The company’s Q3 revenues grew by 9.5%, slightly exceeding consensus expectations, and they have raised their full-year organic revenue guidance. Additionally, Stryker is confident in achieving a 100 basis points expansion in operating margin by 2025, despite some challenges in their Endoscopy and Medical segments which are expected to be temporary.
Furthermore, Stryker’s hips and knees segments have shown better-than-expected performance, with significant year-over-year growth. The company is also maintaining its goal of margin expansion despite potential headwinds from tariffs. These factors, combined with consistent execution and growth at the higher end of the medtech sector, support Travis Steed’s Buy rating for Stryker’s stock.
In another report released today, Barclays also maintained a Buy rating on the stock with a $453.00 price target.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SYK in relation to earlier this year.