Stryker price target lowered to $345 from $364 at Truist

Truist analyst Richard Newitter lowered the firm’s price target on Stryker to $345 from $364 and keeps a Hold rating on the shares. The company posted a modest Q1 earnings beat and raise, though with less revenue upside than the firm is accustomed to seeing, the analyst tells investors in a research note. Investors were hoping for a bigger organic growth beat, though Stryker still boasts one of the better revenue growth profiles in lare-cap MedTech and with several newer product launch areas that shld have a more meaningful impact in the second half of the year and beyond, Truist added.