Stryker price target raised to $315 from $287 at Baird

Baird analyst Jeff Johnson raised the firm’s price target on Stryker to $315 from $287 and keeps an Outperform rating on the shares. The analyst said they delivered strong results in 1Q, especially at the top line, and 2023 revenue/EPS guidance was raised and management sounded optimistic regarding continued orthopedic end-market recovery and solid early demand for new MedSurg products.